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Equities are recovering

CROSS ASSET
  • The USD is now in the green against most G10s, albeit flat versus AUD, CAD, CHF, GBP, EUR, following a more mixed overnight session.
  • The Kiwi has overtaken the Yen as the worst performer, and NZDUSD looks to make another test below the 0.6000 handle, printed a 0.5985 low yesterday, lowest level since the 10th November, as market participants faded the weakness.
  • Risk might be tilted to the upside this morning, after the Estoxx future broke the May and April low yesterday, but the USD is so far unmoved.

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