The dollar is holding steadier to start the day, even as risk tones are looking slightly better - for now at least. It's tough to identify a pure trending move in the dollar these days as investors continue to digest what is happening in the equities and bond markets.
Stocks may be set for a modest bounce going into Europe but after we have seen last week, it is too early to draw any conclusions from the moves for now. The charts aren't looking pretty for the S&P 500 and Nasdaq, so keep that in mind when viewing any tentative rebound at the moment.
Besides that, oil is holding up after last week's "almost" breakout unraveled. WTI is trading up 0.7% to $85.70 as buyers keep a defense of the key hourly moving averages for the time being.
Risk sentiment is still the key spot to watch in my view so that's going to be the focus before the Fed later this week.
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