Eurostoxx futures -1.2% in early European trading

Softer tones in Europe in early trades

• German DAX futures -1.3%
• UK FTSE futures -1.0%
• Spanish IBEX futures -1.0%

For some context, European equities missed out on the late jitters in Friday trading last week as indices in the region closed higher before the fall in US stocks took place.

That coupled with more tepid risk sentiment to start the session today is keeping the market mood in-check, as we see US futures pare gains to around 0.2% currently.

In the currencies space, the dollar and yen are still mildly weaker but off earlier lows with AUD/USD now at 0.6857 after having been defended at its 100-hour moving average and GBP/USD now at 1.2375 with sellers leaning on the 1.2400 level earlier.