Equities are softer and the US$ is feeling the love
No recent correlation to be seen of late between the "funding ccy" euro and equities so it's been all downhill for EUR pairs this morning despite European equity markets turning south into negative territory. Softer Eurozone flash CPI has only added fuel to the process while concerted EURJPY selling earlier spread into other euro pairs
EURUSD is currently 1.0763 just off session and new 1-month lows while GBPUSD has dipped below yesterday's 1.4664 low to post 1.4659 despite better UK construction data.The lack of rally afterwards was the clue as I highlighted in my post
EURUSD support into 1.0750 with stop-losses reported if breached
Elsewhere AUDUSD has fallen through 0.7180 support/demand to post 0.7165. More bids/support noted into 0.7150
USDJPY has rebounded from the key 118.80-85 area to post 119.16 with offers/res now into 119.25-30. USDCHF has enjoyed the ride higher to 1.0086 as EURUSD falls and EURCHF remains well supported. Don't rule out some SNB hand on the tiller here
And don't look for any particular rhyme or reason for these early-year moves. Has been ever thus and a good indication of the rocky trading path ahead in 2016
