Risk trades get a boost on the data release

DAX 24-10

Dip buyers are once again vindicated as global equities continue to soar after a bit of a rough start to October. The S&P 500 is just a tad shy off record highs and now we're seeing the DAX climb to its highest level in sixteen months.

Equities were already faring decently on the day but this here just gives an added oomph to the run higher as the DAX is now up by 0.8%.

Bond yields have also flipped higher and that in turn has sent gold lower on the day. USD/JPY has also moved up to a session high of 108.75.

That said, not all risk trades are performing similarly with the aussie and kiwi still failing to get off the floor despite the more upbeat French PMI data.