Eoin Treacy's view

FTSE-100 – closed well off today’s lows. Following four consecutive weeks to the downside and a more than 15% decline there is scope for some short-term steadying. However, such has been the damage done to confidence a period of support building will be required before a medium-term bullish hypothesis could be justified. 

US Dollar per 1 Australian Dollar – continues to steady in the region of the January lows but will need to break up out of this range, with a move above 89¢, in order to confirm more than temporary support in this area.  

Canadian Banks – experienced their deepest reaction in at least three years and firmed today in the region of the 200-day MA. This level represents the first area of potential support but conditions would need to improve substantially if the medium-term uptrend is to be reasserted in the short term. A broadening pattern now looks likely.