Commodity currencies lead the charge while safe haven currencies lag behind
Based on that, could you tell that equities are being beaten down in European trading? While Asian stocks pared losses into the close, that sort of optimism hasn't yet translate itself into European markets.
Here's what the snapshot looks like:
It's certainly a peculiar one in the currency market, especially when you think about the US-China trade war still brewing in the background.
The only thing that is working in the favour of risk sentiment right now is that US equity futures continue to hold up. S&P 500 futures are trading nearly 0.40% higher at the moment, but it will be all about the cash equity market later that will have the final say in this I reckon.
That's a similar thing to what happened in yesterday's trading, although you can argue that it was mired by thin liquidity in European trading - with the Easter break yesterday.
