Dollar continues to benefit from softer risk tones
The market had a more “sensitive” reaction as investors looked beyond service headlines and composite printing to digest the details instead.
European equities are down near the lows now, with the DAX falling about 1.4% as we think US futures will also continue to fall by around 0.7%. The S&P 500 remains a pivotal graph to watch, the index having closed yesterday a test of its main daily moving averages.
It is still early in the session to draw conclusions about how risky transactions will proceed for the rest of the day, but for the moment, there is no change after the publication of the zone’s PMI euro.