Sentiment is weak today, as investors wait on sales forecasts for 2019. Attention will be on European Central Bank President Mario Draghi’s speech before the European Parliament. Following last week’s ECB meeting, Draghi will likely not provide new information. Earning reports are due from Caterpillar, Whirlpool, Celanese and AMG.
On Friday, the US dollar tumbled across all G10 currencies amid a broad risk rally. Equities ended last week in the green, thanks to a solid bounce back on Friday. The S&P 500 edged up 1% over the last 5 days, while the dollar index fell 0.65% to 95.80. On Monday morning, the mood has reversed as risk sentiment deteriorated. Equity futures headed South with the S&P 500 and the Eurostoxx 50 sliding 0.50% and 0.60% respectively; while the single currency edged down 0.05% against the buck. Safe-haven currencies were better bid on Monday morning: the Swiss franc rose 0.20% to 0.9920 and USD/JPY fell to 109.35, down 0.18% on the session.
