Swings and roundabouts for stocks but the dollar struggles-check out the EUR/USD

Following on from the previous update, the CAC 40 has now fallen to fresh session lows underneath 7,462 and that has been facilitated by a fall back into negative territory on the DAX. That has now given back all its earlier session gains and more. The Nasdaq 100 futures have turned lower again too and this has all come about as more swings in stocks play out again today and there is no reason  behind this current relapse that can be news based right now, so expect more of the same as the day unfolds. The important US data will not be covered here this afternoon, but updates will resume tomorrow morning. Meantime, despite the drop back in stocks the dollar remains on the defensive and it remains to be seen if the US data this afternoon will serve to turn the US currency around again. The EUR/USD is still testing the 1.11 handle as this update is concluded and so for the time being the US currency remains under a degree of pressure across the board.