Trading has gone quiet in the last hour as we await the open of the NY session. Earning results out so far have been mixed but the biggie, Goldman Sachs easily beat the markets expectation. US futures market are showing modest gains for the Dow and the S&P on the open. FX wise EUR/USD is at least holding its ground though the topside is hard going. GBP/USD came off quickly from its highs (1.5435) but is consolidating now around 1.5490. Players say liquidity in the pair is terrible. USD/JPY had a look at 93.00 but fell short by two ticks. Some talk of option expiries at 93.00 in NY. AUD/USD has not backed off and looks primed to trade a little higher. All up a recovery of sorts but as always Europe very cautious.