Early gains turn into losses as things get going
Stocks opened with a more tepid mood before posting modest gains in the opening hour but have given all of that back now. The DAX is now down to session lows, lower by 0.3%.
The market mood remains more cautious in general and while there were positive undertones earlier, they weren't too suggestive of anything overly positive. Not least with US futures continuing to keep more flat and tepid as well.
There hasn't been much to distract from the pessimistic developments with regards to the coronavirus situation in the US, and with the re-opening now turning back into the re-closing, there are considerable jitters among investors.
Again, the key spot to watch is the US stock market later today after the bears edged things out by a little bit at the end of trading last week.
As such, trading sentiment may yet stay more choppy and cautious in general in the European morning. Elsewhere, the dollar has also pared some of its earlier losses too as the risk mood continues to hint at more caution for the time being.
AUD/USD is back near flat levels at 0.6868 after retreating from a high of 0.6891, backing off from a test of its key near-term levels. Cable is also down to 1.2345 after having touched a high of 1.2390 earlier at the start of the session.
