Equities are pinned lower once again on the day, after a terrible showing by Wall Street overnight. European indices ended with heavy declines yesterday but were off the lows, hence there will be some catching up to the late and steep drop in US stocks. Adding to that will be the more guarded risk sentiment at the moment.
Most European futures are down over 1% while S&P 500 futures are down 0.3% on the day.
The switch in fortunes yesterday finally caught up to the aussie and kiwi where both currencies were dragged lower.
It is a bit of a rough one for AUD/USD as price falls back below the 200-day moving average and broken trendline resistance:
Both the aussie and kiwi are down 0.4% against the dollar currently, trading near session lows at 0.7285 and 0.6805 respectively.
