Softer tones observed in early trades
- German DAX futures -0.8%
- UK FTSE futures -1.1%
- Spanish IBEX futures -2.0%
This is mainly a continuation from the moves towards the closing stages of last week, with virus fears prompting jitters and led to a sharper fall in US indices on Friday. The softer mood in Asia also isn't really helping to start the week.
Elsewhere, US futures are also keeping slightly softer for now. S&P 500 and Dow futures are both down 0.3%, having kept near flat levels in the past two hours.
The risk bias is slightly tilted towards the more defensive side but we'll have to see what the virus headlines later today will offer.
As a reminder, the bears edged out a victory towards the end of last week if you were to view the S&P 500 as one of the key gauges of risk:
Let's see if they can keep that momentum going later today. If so, the current patch of dollar weakness to start the session may not stay the course.
