US equities losing further ground in early trade

The cash markets have opened weak on Wall Street. The S&P is down 1.2% or 13 points in the first few minutes of trading. This will keep the risk aversion theme at the forefront for the near-term.

EUR/USD is drifting down after a push into the 1.4880s. Russia bids are rumored in the 1.4840/45 area. A break will turn the focus on the 1.4800/10 area again and the barriers that lie at the bottom of that zone. EUR/USD trades at 1.4865.