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Risk-Off Sentiment Fading at NY Crossover

CROSS ASSET
  • Having traded lower across the European morning, EUR/CHF now back to unchanged on the day having recovered around 30 pips from the day's 1.1037 low.
  • Price action in EUR/CHF mirroring that of the E-mini S&P, which is also off the day's lows.
  • Still some cause for concern among financials shares. US Banks are following their European counterparts lower on exposure to Archegos Capital.
  • Goldman Sachs -3.1% pre-market, Citi down 1.1%, JPM down 1.4%

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