Softer tones but losses are not as bad as earlier in the day

Nikkei 18-06

The overall risk mood remains on the softer side amid the tepid tones since US trading yesterday, with US futures also still lower as we look towards European morning trade.

E-minis are down by 0.7% and that is keeping equities sentiment on the defensive in general. The Hang Seng is also down by 0.5% but the Shanghai Composite is up 0.1% as China proceeded to cut its 14-day reverse repo rate earlier in the day.

In the major currencies space, the aussie and kiwi are slightly weaker with AUD/USD down to 0.6868 but the aussie is also holding softer tones after the weaker Australian jobs report earlier in the day here. The dollar is keeping more mixed for the time being.