Oil has fallen back to $60.30 from highs of $61.60 a short while ago. US equities are losing their early gains as well, helping undermine the “risk on” environment seen early in the day. The market is fairly long EUR/USD after perhaps reading a bit too much into a seasonally funky drop in US jobless claims.
EUR/USD trades now down at 1.3960. 1.3945 is important support for short-term punters. A break will prompt fresh position squaring.
