Equity markets have shed most of their earlier gains, now up just 1.5 points in the S&P from up 5 points earlier in the session. Looks like markets will key off of ISM data, out momentarily, for direction. 53.0 is the consensus. (I’m skeptical, as I’ve said over the last few days…most of the regional Fed surveys were weak…).
EUR/USD heads into the data range-bound, around 1.4761.
UPDATE at 14:54 GMT: Spoke too soon. Stocks are up 6.7 and EUR/USD is at 1.4775. Rumor of firm ISM must be going around…
