Sentiment seems bearish on Monday morning

Stock markets are dropping notably on Monday, amid disappointment that the EU leaders have failed to come to an agreement over additional stimulus as coronavirus case numbers continue to rise globally. 

European bourses are down 1%, while US futures are pointing to half a percent losses.

However, the EU leaders have agreed to return on Monday afternoon in an effort to finish the negotiations. 

Earlier in the day, the latest BOJ meeting minutes showed that “members agreed tension in global financial markets had abated due to aggressive fiscal and monetary policies. Members shared view markets continued to be nervous due to high uncertainty regarding domestic and overseas economies.” 

The USDJPY pair climbed above the 107 level afterward, but volatility in the FX markets remains dismal. The EURUSD pair was heading toward 1.15, probably due to expectations of the mentioned stimulus deal. 

Gold, silver, and copper were flat in the London session, while the WTI oil dipped 1%.