The softer risk tone reverberates over to Europe in early trades
- German DAX futures -0.5%
- French CAC 40 futures -0.4%
- UK FTSE futures -0.2%
This is keeping in tune with what we have seen in Asia Pacific trading, although the declines are much more modest as compared to what we're seeing in Chinese stocks today.
The Shanghai Composite ended the day 2.8% lower while the CSI 300 index closed 3.1% lower as the curtains come down with the Chinese New Year holidays starting tomorrow.
The more defensive risk mood is keeping the yen bid to start the session with USD/JPY just off lows around 109.50 and is trading at 109.58 currently.
