Risk assets saw a respite from the relentless selling pressure in overnight trade as US stock market futures turned higher, but that rally may prove to be short-lived. After opening higher by nearly 400 points from yesterday’s close, the Dow Jones Industrial Average just dipped back into negative territory as we go to press, ostensibly on headlines that President Trump may not meet with General Secretary Xi at the G20 summit. As I noted on twitter, today’s stock market close will be critical for sentiment heading into the weekend and into early trade next week. In terms of the FX market, NZD/USD is a classic ... (full story)