Two steps forward and one step back for the US economy is providing frustration for those heaviy invested in the reflation trade. US equities are having a bad day after the weaker than expected US employment report. Oil prices continue to slide as well. down over $2 and trading on the $66 handle. $66.25 is very important support for crude prices in the near-term.
EUR/USD sits at session lows amid (1.4012) reports of options-related demand for the 14:00 GMT options cut. Heavy stops are seen below the 1.3980 level with ligher stops beginning at 1.3990.