Light changes as we look towards European morning trade

In FX, narrow ranges are prevailing with the dollar keeping more mixed so far. EUR/USD is holding at 1.0580 but keeping within a 15 pips range to start the day. The only notable movement to start the week is perhaps USD/JPY, which climbed back above 135.00 yesterday but is down 0.1% to 135.30 at the moment.

Equities had a bit more of a rough showing in US trading yesterday and futures are a touch softer on the day as well. S&P 500 futures are down 0.2% with European futures also slightly lower in playing a bit of catch up to the declines in Wall Street yesterday.

Elsewhere, Treasury yields are a little softer with 10-year yields down 2 bps to 3.175% but the action to start the week isn’t anything too significant. It looks like we’ll be in store for some light pushing and pulling in Europe as markets gear up for month-end trading action with little on the agenda to really shake things up this week.

Michael Cooper

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