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.
