European stocks see red at the open to start the day

<ul><li>Eurostoxx -0.8%</li><li>Germany DAX -0.7%</li><li>France CAC -0.8%</li><li>UK FTSE -0.6%</li><li>Spain IBEX -0.7%</li><li>Italy FTSE MIB -0.8%</li></ul><p>It's not a good look at the open as European equities are playing catch up in part to the declines in US indices overnight. Adding to the drop today is the fact that traders are paring ECB rate cut bets this week. A March rate cut is now seen at ~58% and that is down from ~73% at the start of yesterday. For added context, there was a total of ~161 bps worth of rate cuts priced in for this year at the end of December and that total has dropped to ~147 bps currently.</p>

This article was written by Justin Low at www.forexlive.com.