Risk-off tones in early trades
- German DAX futures -3.4%
- French CAC 40 futures -3.7%
- UK FTSE futures -0.6%
This carries over the mood from Asia, where the Hang Seng is down by just over 4% currently. Meanwhile, US futures are also down 1% as we begin the session.
The softer tone is keeping the dollar and yen bid, with EUR/USD down to a low of 1.0925 while AUD/USD is down to 0.6375 currently. USD/JPY is a tad lower at 106.75.
US-China trade tensions are to blame for the poorer start for risk but perhaps the S&P 500 also failing at a key resistance level is a reason to consider in all of this:
