US equities have given back half their afternoon gains, now trading up about 0.9% after rallying 1.75% about 30 minutes ago. All in all, the markets seem happy just to have the bulk of this stress test nonsense behind them.
EUR/USD rallied as high as 1.3355 on light volume as many traders are sticking close to the sidelines until the ECB meeting and press conference are out of the way tomorrow afternoon.
Commodity currencies continue to lead the pack; AUD reached 0.7500 while USD/CAD slumped as low as 1.1660. Oil closed at its highest level in six months, up $2.50, above the $56.00 level.
Against this backdrop, be a buyer of the inevitable pullbacks in the commodity currencies while leaving EUR/USD well enough alone.
