We continue to make fresh lows in risk trades across the board as we head into the European session. Friday’s rally is slowly being unwound whilst crude has broken some big levels with futures markets now down over 1.0% on the day. Even US equity futures have got into the act with Dow futures down 0.3%. Most European bourses are seen opening down around 0.4%. EUR/USD for its part grabbed a few weak stops on its move below 1.4250 but the worrying thing is the pair is not bouncing; last at 1.4228.