A bit of catch up play in early trades
- German DAX futures -1.5%
- French CAC 40 futures -1.3%
- UK FTSE futures -1.2%
The softer tones here are mainly to do with a bit of catch up to the late drop in US stocks in overnight trading. European indices closed mixed, closer to flat levels and "escaped" the late session fall in US indices that saw a decline of about 2% yesterday.
The current risk mood is more tepid with US futures near flat levels, and bonds also not doing a whole lot to kick start European morning trade.
Major currencies are also not showing much imagination, with traders likely awaiting Fed chair Powell's speech later to hopefully gather more direction on the week.
