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A decent showing so far on the day
European indices are trading near the highs, up around 0.4% to 0.7% on the session currently while US futures are also up by roughly 0.4% to 0.5% on the day.
That is seeing the risk mood keep in better standing so far in European morning trade, with the dollar seen trading more mixed across the board now.
Commodity currencies have more or less trimmed losses against the greenback and going back to European stocks, the DAX is still seen holding a defense of its 200-day moving average so that is a key technical victory (for now at least) for buyers:
Meanwhile, the heavy selling in the US session yesterday saw the S&P 500 close at its lowest since July and also kept below its 100-day moving average, so any bounce in the day(s) ahead needs to try get above the latter to really convince of a further rebound.
This article was originally published by Forexlive.com. Read the original article here.