NY Open: Twenty pounds of headlines
Markets started the day in a confusion of incoming news as ECB chatter met with trade talk updates and US macro data. EURUSD took it on the chin and dropped from 1.1270 to 1.1235.
Also of note in the FX space is kiwi, which in Hardy's view could react interestingly to the Q1 unemployment data slated for release at 22:45 GMT today.
In stocks, Larsson says that he sees the S&P 500 as "struggling to gain momentum" with strong resistance at both the 2,800 and 2,717 levels; on the downside, adds Larsson, the 200-day moving average at 2,600 "is crucial".
Saxo Bank head of equity strategy Peter Garnry reports that investors appear to be placing more focus on macro data and rates than on the relatively strong earnings season with the latest Apple release in focus after today's New York session.
"AAPL is down 10% from its peak on projections of weak demand from key suppliers" notes Garnry. "However, IDC forecasts a 31% gain in iPhone sales in Q2".