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USD Demand Emerges to Tip EUR/USD to New Lows

FOREX
  • USD demand emerging over the past few minutes to press EUR/USD to new daily lows, with GBP/USD looking to make a similar move.
  • EUR futures see an uptick in volumes on the move, making for the likely trigger in the absence of any key data or headlines releases in the past few minutes. Volumes so far Tuesday are ahead of average for this time of day, with EUR futures activity around 40% ahead of the levels you'd expect to see at ~0945GMT.
  • Move also coincides with modest weakening for US equity futures, with the e-mini S&P slipping through the overnight Asia-Pac lows to print 4816.25 - although still well above the Dec29 low.
  • This puts the USD back toward the top-end of the G10 table, however AUD and SEK remain the firmest on the session so far.
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