Not much reprieve or change to the risk-off mood this morning
- Eurostoxx -2.2%
- Germany DAX -2.2%
- France CAC 40 -2.4%
- UK FTSE -2.2%
- Italy MIB -2.6%
The pullback today largely reflects the softer tone in US stocks - except the Nasdaq - in trading yesterday and also the nudge lower in US futures today as well.
S&P 500 futures are down by 1.6% while Dow futures are down by 1.9% currently.
That said, despite the pullback in European equities, the changes since the start of last week i.e. this month is still overwhelmingly positive. Of note, the DAX is still keeping near 6% gains since then even when factoring the decline today.
Anyway, the softer risk tone is keeping the dollar a little more bid but gains have eased during the session with EUR/USD now up to 1.1395 and GBP/USD back above 1.2700.
