Volatility is still high but gradually falling
The ripples from Monday’s events are subsiding but we’re still seeing high volatility
Perhaps the most worrying sign that things are not over just yet was the collapse of US stocks late in the US session. That potentially wasn’t a good sign at all. There’s obviously still some nervousness around and maybe traders are deciding to square up at the end of sessions more than they would normally. That would be one reason for the turnaround, you see a big bounce, you don’t want to lose out on what may happen in Asia, so you square up and see what the next day brings