EUR/USD has tried to rally a few times this morning but it is running into offer at the 1.3290 level. A moderation of stock losses helped EUR test that 90 area but that rebound soon ran out of steam and EUR/USD dipped with equities. Cable’s rally too has run dry after reaching 1.4775/80.
Looks like it could be a long afternoon in New York stock watching the primary obsession. Keep in mind the monthly consumer credit figures at 3 pm NY time. A drop of $1 bln is expected. Big drops are seen as a negative as they suggest soft consumer demand.
1.3230 is support on dips intraday with more at 1.3170.