Eurostoxx futures +0.8% in early European trading

A more positive tilt in early trades

• German DAX futures +0.8%
• UK FTSE futures -0.3%
• Spanish IBEX futures +0.8%

European stocks look set to bounce back after a disappointing start to the week yesterday, though the early gains here may be fleeting as US futures aren’t showing the same degree of enthusiasm as we get the session underway.

The broader tone in the currencies market is supportive though, with the dollar trailing across the board currently. EUR/USD is nearing the 1.2000 handle, but caution remains as to whether or not buyers can find it easy to clear that level.

There are reportedly some large barriers layered between 1.20 and 1.22 so just be mindful that any potential break later today could encounter a pullback on that amid profit-taking activity as well in EUR/USD.

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