European futures playing catch up to the late gains in Wall Street overnight
- German DAX futures +0.8%
- French CAC 40 futures +0.6%
- UK FTSE futures +0.7%
Just be mindful that the more solid gains we're seeing in European futures at the moment are more related to the late recovery in Wall Street during overnight trading.
European equities ended in the red yesterday amid concerns surrounding the new coronavirus outbreak and failed to partake in the late surge in US equities. As such, we're seeing a bit of catch up play at the moment ahead of the cash equity market open.
The overall risk mood is actually more steady with bond yields mildly higher and US futures also near flat levels on the day still at the moment. That is also reflected in USD/JPY which is keeping around 109.50-55 as we begin the session.
