Risk is brisk this morning as the markets digest upbeat earnings from tech giant Intel and hopes run high for a rescue of mid-market lender CIT, and important liquidity source for small business in the US. EUR/USD is more than a cent higher than we were yesterday afternoon when the Intel earnings hit the tape.
US equity futures are higher this morning, up 1.25% or 11 points on the S&P.
Central bank offers havbe been seen on rallies as reserve managers continue to play the ranges. There is little technical resistance until the 1.4200 level last seen on Tuesday of last week. 1.4040 is support on pullbacks; small trailing stops lie below that level.
