The softer risk tones reverberate to Europe in early trades
- German DAX futures -0.3%
- French CAC 40 futures -0.4%
- UK FTSE futures -0.2%
This is reflective of the mood seen in US equity futures, which are down by about 0.2% as we begin the session. The overall risk tone in markets right now is one that is siding with a more risk-off approach as bond yields are also marked lower on the day.
That is keeping the yen slightly bid for now so let’s see if there will be any more trade/geopolitical headlines that will shake things up during the session. Otherwise, we could be in for more of a mixed trading week as the major focus continues to rest on the Trump-Xi meeting which is likely to only take place during the weekend.