A bit of an overnight catch-up to US stocks
- Eurostoxx -1.2%
- Germany DAX -1.3%
- France CAC 40 -1.2%
- UK FTSE -0.9%
- Spain IBEX -1.1%
European indices missed the late fall of US stocks overnight, so the early drop we see here is partly due to a catch-up in this regard.
The overall risk mood so far today is lukewarm, as US futures have overcome previous losses to sit slightly higher on the session today. The S&P 500 futures are up 0.3%, after falling about 0.8% in Asia Pacific trade before.
As such, the major currencies are not exactly crossing the stride so far today, the kiwi fruit being arguably the only key driver to date, but this is partly related to the RBNZ.