The market is feeling a shade less risk averse this morning as equities rebound modestly, commodities tick up and interest rates firm a few pips in the US.
EUR/JPY has recovered from overnight lows, as has EUR/USD, now at 1.2700 (though 1.2730 continues to act as resistance). Today’s US economic calendar is light, so we will be looking to the news wires for catalysts, as well as the other markets.
Look no further than gold to see that confidence in the global financial system remains fragile, a positive sign for the safe-haven USD, JPY and CHF…