The overall risk mood is a little more upbeat going into European trading
Chinese stocks are having their worst day in years but the beatdown is not as bad as feared with the Shanghai Composite now down by 7.8% after plunging by nearly 9% earlier in the day; after officials stepped in with a wide array of measures to keep the calm.
Asian equities are also mostly keeping lower as such but we are seeing a bit of a mild recovery as the shock in Chinese markets isn't as profound as many would expect after the extended holiday period since 24 January.
The Nikkei is even trading back above 23,000 after posting heavier losses to start the day.
But as we look towards the start of the European morning, things are looking a bit better with S&P 500 futures up by 0.7% and Treasury yields also keeping mildly higher. In turn, that is pushing gold down by 0.6% around $1,580 at the moment.
In the currencies space, yen pairs are keeping a little higher with USD/JPY just above 108.50 while the likes of the aussie and kiwi are keeping mild gains for now.
