An intraday pop is brewing in risk trades as European markets begin to wind down. The S&P 500 held support at 1397 in the early swoon and has turned higher at 1403.
The move is confirmed by rallies in AUD/JPY and a slide in USD/CAD, both at US session extremes.
USD/CAD corporate sellersat 0.9945/50 held the line and bids at 0.9925 were easily toppled but more littered all the way to 0.9800. Look for stops or momentum sellers below 0.9900.
