Risk stays on the defensive so far on the day | Forexlive

It is tough to gather much conviction in this market with there being plenty of headline risks all around. The yen and oil are two examples of that today and it isn’t helping when risk sentiment is positive one day and negative the next. After two poor showings in Wall Street, it looks like market players are seeking caution today though.

S&P 500 futures are down 19 points, or 0.5%, and we are seeing Nasdaq futures be down 1.0% and Dow futures down 0.2% on the day. Tech is leading the downside but European indices are having to play catch up to yesterday’s losses in US trading and most major indices are down nearly 1% on the day.

That is translating to some slight dollar strength on the session with EUR/USD down 0.3% to 1.0700 and GBP/USD down 0.2% to just below 1.2100 again. AUD/USD has also come off its earlier high of 0.6960 to trade at 0.6925 at the moment.