Flash PMI

EUR/USD remains on the defensive after a decline that began from its August 20 peak, with traders weighing rising Federal Reserve rate-hike odds and persistent inflation risks. Technical traders are watching whether the pair can extend losses toward the 1.1475 area before any potential rebound develops.

The S&P 500 moved lower Thursday after opening beneath its 50-day moving average and slipping below a short-term retracement zone that had supported the market for weeks. Traders are watching Friday’s flash PMI data, crude oil developments and whether the VIX can hold above key moving averages before treating the selloff as a deeper shift in risk appetite.