European Shares Lack Direction; Wall Street Set For Stronger Open

Pelosi said over the weekend she was optimistic legislation could be pushed through before the election.

COVID CAUTION

In Europe, tougher restrictions to limit the spread of the pandemic suppressed risk appetite.

Ireland announced some of Europe’s strictest curbs on Monday, telling people not to travel more than five kilometres(three miles) from home. New restrictions were also approved in the Lombardy region of Italy.

France reported a large increase in the number of people hospitalised with the coronavirus.

The dollar fell against a basket of currencies, touching its lowest levels in a week. At 1103 GMT, it was down 0.2% on the day at 93.19. Riskier currencies including as the Aussie and Kiwi dollars were down, but the safe-haven yen also slipped.

The pound edged down versus the euro, as Brexit negotiations appeared stuck in limbo. The British government has said it sees no basis to restart the talks with the European Union unless there is a fundamental change in approach.

Euro zone government bond yields rose, with the benchmark 10-year German yield retreating from recent seven-month lows at -0.613%.

Gold edged down while oil prices were little changed after three days of declines on fears that a resurgence of COVID-19 infections would stifle the recovery in fuel demand.

Brent crude futures were trading down up 0.1% at $42.66 a barrel by 1107 GMT, recovering ground after falling as low as $42.19 earlier in the session.

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