However, ad hoc developments such as the news that Draghi will not be attending the Jackson’s Hole Symposium, and the Fitch discloser that the US’s AAA status is under threat due to fiscal and spending issues has boosted some risk on sentiment as we head towards the US open. The major event of the afternoon is US Consumer Confidence at 14:00 GMT with analysts expecting a 66 posting against 65.9 previous. The analysts at Ace Trader’s see the next significant line of support for the pair as being 78.46.
Elsewhere, European Equities have remained under pressure into the afternoon with The DAX down 0.77% whilst US futures are indicating a slightly lower open. Commodities are continuing to present a mixed picture whilst Spanish and Italian yields have continued to rise 0.64% and 1.42% respectively.