Mild gains seen in early trades
- German DAX futures +0.1%
- French CAC 40 futures +0.1%
- UK FTSE futures +0.2%
I would say this reflects more of a flat tone rather than solid optimism. Asian equities are faring decently on the day but it's mainly a follow through of what we saw from Wall Street on Friday. US equity futures are also just up by 0.1% so let's see if we'll get any further changes in risk sentiment throughout the session.
USD/JPY still holds near flat levels in a 9 pips range, at 111.63 currently.
As noted earlier, Italian bonds will be the spot to watch at the open in Europe as they should experience a relief rally after S&P refrained from a ratings downgrade on Friday.
