Flat tones observed in early trades
- German DAX futures flat
- French CAC 40 futures +0.1%
- UK FTSE futures +0.1%
This mainly mirrors the mood seen in US equity futures, which are also trading at flat levels as we begin the session. Risk trades are still mostly searching for direction but I would expect the indecision to continue until we get to the release of US retail sales data later.
As such, I reckon we could expect a more subdued session in the European morning ahead.
