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USD leans in the red, Equities recover

CROSS ASSET
  • There was plenty of questions regarding some of the largest moves in Equities last night, seen in Futures and Cash markets.
  • Emini fell some 80 points, with no obvious catalyst seen, some suggested Technicals, after US Equities (Dow and NDX) printed new records high and profit taking ahead of the Christmas Holidays and Year end.
  • Large sell programs were also noted on the push lower, these were a 1547 names, the largest since Nov 9, followed by 1875 names for the largest since Jul 6 and before that Mar 9 SVB debacle.
  • FedEx was also a major underperformer (-12.05%) after disappointing results the previous evening.
  • Estoxx has gapped higher on the Open overnight but still trades in the red, while Emini is seeing similar push back and trades in the green.
  • In turn USD leans in the red against most G10s, with the Yen leading, up 0.27%.
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