Eurostoxx futures -0.7% in early European trading

Author: Justin Low | Category: News

Defensive tones in early trades

  • German DAX futures -0.6%
  • UK FTSE futures -0.8%
  • Spanish IBEX futures -0.7%
This follows a more subdued mood in Asia, with the Nikkei closing down 1.3%, the Hang Seng being down 1.9%, and the Shanghai Composite down 0.5%.

US futures are also posturing more defensively with S&P 500 futures seen down 0.3%. This is keeping the yen slightly ahead with commodity currencies lagging.

As mentioned earlier, of note, USD/CAD is testing waters just above its 200-day moving average @ 1.2645 currently - the first time above the key level since July last year.

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