- Eurostoxx -1.0%
- Germany DAX -1.0%
- France CAC 40 -1.0%
- UK FTSE -0.6%
- Spain IBEX -1.0%
- Italy FTSE MIB -1.2%
It’s not a good look for European indices either as seen above, with US futures also tilting lower on the session. There aren’t any major catalysts but the turn of the month can be a little tricky sometimes. As for August as a whole, it’s not exactly the best month for stocks in general as outlined in the seasonals by Adam here.
The softness in equities today is keeping the dollar in a steadier spot while the commodity currencies are continuing to be punished. AUD/USD is looking to inch towards its end-June and July lows near 0.6600 now, down 1.3% to 0.6630 on the day.
This article was written by Justin Low at www.forexlive.com.