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European indices seen lower so far on the session

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Risk trades are still being pressured towards the end of the week

  • Eurostoxx -0.3%
  • Germany DAX -0.4%
  • France CAC 40 -0.4%
  • UK FTSE -0.3%
  • Spain IBEX flat
  • Italy FTSE MIB -0.5%

That follows the more defensive tones seen in US futures so far on the day as well. S&P 500 futures are down 0.4%, Nasdaq futures down 0.3%, Dow futures down 0.4%.

Overall sentiment is continuing to keep some pressure on commodity currencies, with the loonie in particular down by over 100 pips against the dollar as USD/CAD continues its march towards 1.3000 on the week.

All things considered, it is tough to see broader sentiment turning on a Friday – especially one in the context of this week – but perhaps US equities may see a late comeback (as has been the  case typically) through dip buying activity before the week ends.

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