US dollar giving some back today
Yesterday’s capital gains panic has given way to the question: What else are you going to do with your money?
Stock indications are higher now with S&P 500 futures up 7 points following yesterday’s 38 point decline. However European bourses are making fresh lows at the moment and that’s the spot to watch.
The US dollar is softer right across the board and making fresh lows. USD/JPY is under particular pressure at the moment.
The economic calendar today features the US manufacturing and services surveys from Markit along with new home sales. The numbers have been strong so far today and UK retail sales blew away estimates.