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EUR/USD struggling for traction as European stocks open deeply in the red
The European stock markets have just now kicked off the new month deeply in the red. Almost all sectors are lower, with the possible exception of the Utility sector. The dollar is still very much on the front foot, as you might expect. The DAX is being especially impacted due to the auto sector getting hammered this morning. The EUR/USD is still clinging to the 1.02 handle for the time being, but the odds of it revisiting the overnight low, at 1.0141 remain significantly elevated. The thing is; even if there is a rally, it is likely to get stamped on right now. The EUR/USD is right now at 1.0215
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