The service sector ISM was a shade firmer than the median forecast but markets are under pressure. US equities are back to break-even after a rally in the futures of 1% was unable to be sustained.
EUR/USD has triggered stops below the 1.4270 level, slipping back to the low 1.4260s so far. Portgual’s outlook cut by Fitch, a cautious tone from Trichet and stubbornly high jobless claims have deals turning cautious. Hope for improved US employment data tomorrow are fading…
