ECB will cut rates in June and probably the BoE, too fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
FX and stock markets remain reluctant to really enter correction mode as well. European equity markets recovered 0.5% while key US gauges ended with small losses. Technical pictures remain fragile for both going into Q3 earnings which get going next Friday with several US banks. Apart from the results, it could be (worrying) outlooks that influence risk sentiment. The trade-weighted dollar (DXY) closed at the intraday low of 106.32 from an open at 106.77, but remains within the upward trend channel since mid-July. EUR/USD rebounded from around 1.05 to 1.0550 and is similarly locked in a downward channel.