Despite European futures keeping closer to flat levels, the overall risk mood is more on the defensive side to start the session as US futures are seeing down ~0.3% now.

That said, they are off earlier lows – similar for Asian equities – and that is seeing some of the dollar and yen strength ease a little. Both currencies are still leading gains but are off the highs seen earlier in the day.

The main focus will be on US non-farm payrolls today for any further clues about labour market conditions and how that will relate to risk sentiment later ahead of the weekend.