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Sunday, March 7, 2021

S&P 500 falls to one-month low. Commodity FX follows

Risk trades have a dive

We’re at new lows for the week in stocks and that means low lows since August 5.

Risk trades take a dive
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The commodity currencies did not bite when stocks rallied earlier and that was the best call. The FX market has been one step in front of stocks all week.

With the latest move around in stock markets, AUD/USD has just above given up today’s gains and is trading flat on the day.

For bank trade ideas, take a look at eFX Plus

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