The DAX is up to a session high now, gaining by over 0.5%
The push and pull in the risk mood continues as we now see European equities pare earlier losses to sit in more positive territory on the session. US futures have also more than halved earlier losses of over 1% as we see a slight rebound in risk sentiment.
In turn, the dollar and yen are both paring back some of its earlier gains now.
EUR/USD is seen near flat levels at 1.1282 after having hit a low of 1.1255 earlier and AUD/USD is also back up to 0.6947 currently, off earlier lows of 0.6924. Both pairs are trading back above their respective 200-hour moving averages as well.
As for the trading day ahead, I think the S&P 500 will be an interesting chart to watch. Futures are down by about 0.3% after the softer day yesterday but the index in itself has yet to post back-to-back daily losses since 10-11 June.
That sort of tells you a lot about the market bias over the past month.
