The modest bounce that US shares mustered at the open is already losing steam. The S&P is up just a point at writing.
EUR/USD has dipped back below the 1.2700 level with central bank sales and moderating risk appetites both factors. A quiet New York afternoon looks likely.
1.26460 is support for EUR/USD now on dips while 1.2750/55 is resistance.
Just crossing the wires, Eurogroup head Junckers says he sees a slight pick-up in the eurozone economy in the second half of 2010. I suspect tat is a typo, but if not, It’s gonna weigh on EUR/USD.
The economic crisis, he says, is absolutely catastrophic.