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The record-shattering US weekly initial jobless claims did little to aggravate the market in trading yesterday as it serves to only offer more of a glimpse of what to expect if the coronavirus outbreak gets worse and lockdown measures intensify.
Rebalancing flows are also creating a bit of a muddy picture in trading this week, but in the currencies space the dollar continues to keep weaker after the Fed took action on Monday to relieve financial/credit risks - unwinding the dollar funding strain.
The risk picture is a bit more mixed today with Asian equities outperforming but US futures are keeping lower - for now at least - as we begin European trading.
As the dollar tests key technical levels against the euro and yen, the close this week will be one to watch in spite of the new tone that the market may adopt come next week/month.
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