Risk-off tones continue to hold out in European morning trade
We're not seeing much of an extension of the softer mood but risk sentiment remains weak in European trading so far. The bulk of the move across asset classes were observed at the start of trading today after Trump's tariffs threat over the weekend.
China has earlier confirmed that it is still planning trade talks with the US but refuses to confirm the details of their delegation and exactly when they will be departing for Washington this week. If anything, it doesn't look like we will see high-level discussions between the two parties in the next round of talks.
The Japanese yen continues to hold firm against the rest of the major currencies bloc, with USD/JPY holding steady near 110.75 currently. Meanwhile, the swissie and dollar are also notable gainers while commodity currencies are lagging behind. The pound is also a notable loser after erasing early morning gains following a gap lower.
In the equities space, S&P 500 futures are down by nearly 2% on the day still while European equities are also being hammered with almost similar declines. And in the commodities space, gold is among the gainers, up by 0.3%, while oil is a big loser with Brent falling 1.2% to just under the $70 handle currently.
