US equities have more than halved their early losses and have moved back above the 741 level intraday. Chicago PMI and University of Michigan sentiment were not a s dire as feared and may be lending a bit of stability to battered markets.
Dealers report large offers coming into the market in USD/JPY ahead of 98.00. If they are absorbed, we’ll get a sense of whether the market is short intraday.
EUR/USD resistance is at 1.2750 and 1.2775 in the short-term.
