Good Afternoon. It certainly feels a lot less frenetic today and after the surge in Risk sentiment on Friday and Monday its hardly surprising that markets have settled down somewhat. The risk on trade is still in full swing, but it seems a few chips are being taken off the table.
German new car registrations show no sign of abating, posting a 29.5% rise in July. Elsewhere thankfully we do have a few bits and bobs in the NY session, with Personal Income and Expenditure, Q2 PCE price index and Pending Home Sales due up.
Not much to add in the way of flows, but I’ve heard that stops below 1.4340/50 in Eur/Usd are quite large in number.
