Equities have now taken a turn lower on the session with European indices seeing red for the most part now. The DAX is now down 0.5% and CAC 40 down 0.8% after the more positive start to the day here. Meanwhile, US futures have also dipped lower with S&P 500 futures down 0.4% on the day.
Besides the softer PMI data from the euro area and UK, there’s not much else to drive the latest changes in equities. And even with traders now saying that the ECB might very well have to move quicker in December, it’s not providing much comfort for European stocks.
The drop lower isn’t just limited to tech shares as well. Dow futures are also now down by 0.3% on the day.
And the more cautious developments here are just adding to the case for EUR/CHF to potentially break to fresh record lows, with the pair already down 0.4% to 0.9250 currently. The low right after the PMI data earlier was 0.9203
This article was written by Justin Low at www.forexlive.com.
