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Cash Equity Open Could Define Risk Ahead

CROSS ASSET
  • EUR/USD pullback extends through the NY open, with the pair printing a new daily low at 1.0860 just ahead of the cash equity open. EUR now comfortably the poorest performer in G10, with EUR/GBP within reach of earlier lows of 0.8521, the lowest since July 12th.
  • Stall in the equity rally seemingly helping to undermine EUR to a certain extent, with the Eurostoxx future just off the daily highs of 4305.00.
  • Cash equity open in 30 minutes could define risk ahead, with currencies taking the lead of US fixed income / equity futures markets so far Tuesday. Positive open still expected, with futures pointing to outperformance among tech names, and notably the NASDAQ-100.

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