Asian equities slump to start the week

Nikkei 29-06

This follows the softer mood from US trading at the end of last week, where we saw the S&P 500 closing below its 200-day moving average. US futures are also looking more tepid to start the session, with E-minis keeping closer to flat levels now.

The Hang Seng is down by 1.4% while the Shanghai Composite is currently down by 0.7% after returning from a longer break since Thursday.

In the major currencies space, the dollar is the weakest performer so far as it is giving back some gains since trading late last week. EUR/USD is up from 1.1220 to 1.1250 with AUD/USD a little higher by 0.2% at 0.6880 at the moment.

That said, we may be in for a more choppy session considering the risk mood so just be wary of that as we navigate through European trading today.