Morning traders, two tiny but definitely annoying losses on NZDCAD, while as expected stocks were heavy NZDCAD managed to detach from sentiment and stay bid, I guess we picked the wrong horse to trade the "risk off" as it seems the classic CHF and JPY took the spotlight as they regained their safe haven statuses Something worth keeping in mind, going forward further stocks (S&P500) downside may be best traded via JPY or CHF longs, taking notes of that, in the meantime speaking about the S&P500 (and crypto) we continue with a bearish bias expecting new lows going forward, the picture remains the same, bearish as long as the FED says so, and they are saying it loudly, as such our FX trades will be also biased towards further "risk off"