After the Chinese GDP figures, risk was off. Now that jobless claims have dipped and some decent earnings reports have hit the wires, it’s risk on. EUR/JPY is back above 131.00, EUR/USD is 1.3215 and Cable is back above 1.49. If I were you, I’d forget the thrashing and flogging in EUR/USD and concentrate on the bBig three that have dominated trade this week. AUD/CAD/GBP all still seem to want to trend higher. Untilthey turn, the dollar looks like it will be a sideshow.
S&P futures closed up 6 points at 854.50 as they await the opening of the cash market.
