EUR/USD has recovered 1.2210 after posting fresh intraday low at 1.2192. Ditto GBP/USD at 1.4290 (intraday low 1.4260) and AUD/USD at 0.8106 (intraday low 0.8094). It is even hard to call this a bounce. Nevertheless the sellers have run out of bullets at the moments and are probably waiting on US players to join the selling frenzy.
Dow futures down 220 points, S&P futures down 29……………ugh.
The overwhelming negativity in the market at the moment is reminiscent of late 2008 but there does not appear to be a circuit breaker. Wemay be on the cusp of some very big moves – no prize for which direction.
