Relatively stable markets in early Asia trading, but renewed risk aversion seen creeping back as Cross/JPY, EUR/Cross under pressure in late morning. EUR/USD threatening to test the 1-year 10-m lows of 1.2516 hit yesterday. While Cross/JPY under pressure on risk aversion ahead of the week end.

The end of another week with some familiar themes in train, and while we did see some action from left field on Thursday the overall picture is fairly familiar. There is nothing on the calendars offering hope of anything new, so we suspect that the newswires will remain under scrutiny and the day and algo traders will tag along with equities as fickle risk appetite dictates trade.

European markets are expected to open on a stable note. Risk aversion should prevail ahead of the weekend. Wall Street will be closed Monday.

US indices closed mixed yesterday with the Dow/S&P up and Nasdaq Composite lower. The food & beverage, health care equipment sectors were up while the technology hardware & equipment and software & services sectors were under pressure.

Posted by Mike Moloney | Account Executive