Equities struggle but some cautious optimism creeps into FX – ForexLive

USD/CAD continues to unwind. AUD/USD flat

US equities are re-testing the opening levels but other markets are showing more confidence.

The S&P 500 is down 71 points to 4360 and that’s just 4 points from the spike-low at the open. Meanwhile, the FX market is showing a bit more optimism. USD/CAD is at 1.2803 after hitting a high of 1.2895 three hours ago.

The Aussie and kiwi dollars are also virtually flat and have been holding there for a time. The euro doesn’t necessarily reflect the risk trade but it’s also doing a bit better as well.

Over in the bond market, US 10s are down 4.6 bps to 1.324% from the low of 1.307%. I tend to think that bonds and FX lead equities but lately that hasn’t always been the case. In commodities, oil is $1 from the lows but still down $1.02 to $70.94.

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