Eurostoxx futures -1.7% in early European trading

Softer tones in early trades

• German DAX futures -1.8%
• UK FTSE futures -1.2%
• Spanish IBEX futures -1.4%

This in part has to do with some catch-up play after European equities finishing trading yesterday higher, avoiding the late drop in US stocks. The retreat here is in part to do with that, as the risk mood stays more on the tepid side to start the session.

US futures are keeping closer to flat levels for now, and that is giving currency traders with little conviction to move on the new day.

Another lull of a session awaits this summer day it would seem.