Major currencies have remained largely unchanged, while equities have been volatile.
There was a tiny bullish bias for European shares at the beginning, but that has all turned around now, with the DAX down 0.2%.
US futures have likewise lost some of their early gains, while Nasdaq futures are still up 0.2%. Following the expected consolidation phase around 4200, the S&P 500 appears to be continuing its fundamental rise. Further strength is expected to the 4350 level, with a target of 4436/56.
The pound is the lone noticeable mover in the foreign exchange market, with other major currencies chopping but trading in a nice little range so far today. However, as previously mentioned, even gains in the pound are limited by near-term resistance.
For the time being, there aren’t many headlines, so things are likely to remain sideways until North American traders arrive.
As for Today, waiting for Fed’s Williams speech, ECB’s de Guindos speech and Fed’s Quarles speech. In The US, 3-month bill auction and 6-month bill auction data will be released also today.