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Dow Jones futures rebound back above 33k as European advance extends

The dollar has continued to leak lower versus the major European currencies and that has seen the GBP/USD extend its move above 1.21. The prospect of that was highlighted here beforehand and now that move has lifted above 1.2135 a short while ago. At the same time the DAX and FTSE 100 have lifted further helped by the weaker dollar and better than expected PMI data. The DAX is back above 15,100 now. This in turn has delivered a rebound in the US futures as well and now the Dow Jones is pricing a reopening above 33k. The opening will come after the ADP data, but ahead of the ISM index so there is plenty that can yet chop and change the outlook once live trading resumes. However, right now that opening looks more positive than it did at the start of the European session this morning

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