The bounce after the European close fades
There was a nice bounce after Europe logged off but it’s faded in the last 40 minutes.
The S&P 500 is now retesting the lows of the day. It’s a pivotal moment here for risk assets into the weekend.
That said, even if we get a terrible close does that really make a difference for Monday’s trade?
Even if something goes wrong at Evergrande, there are PBOC and Fed decision coming Wednesday that could reverse any negativity (or compound it for that matter).
This article was originally published by Forexlive.com. Read the original article here.