The German DAX sees gains pared back to under 1% currently
Meanwhile, most major indices are seeing their earlier 3-4% gains fall back to just around 1% at the moment. At the same time, US futures are seeing gains ease a little as well, keeping just over 2% gains from 4% gains earlier in the session.
I would argue that this shows that the risk mood is still fragile and so far the retracment after the sharp losses over the last two days does not look like it will amount to much.
It is still early in the day to be drawing conclusions but so far, the dead cat bounce isn't really bouncing that strongly for the time being.
In the currencies space, yen crosses are keeping weaker still with USD/JPY near the 106.00 handle after failing a firm break above the figure level earlier.
