Early worries erased

There's no catalyst for the ongoing improvement in the mood in markets but it's picking up steam. The S&P 500 is up 12 points to a fresh record at 4381.

The moves are more-impressive in FX where AUD/USD has made a nice move into positive territory from as low as 0.7448 a few hours ago. A break above Friday's high could run some stops, though apprehension about tomorrow's US CPI report could cap the gains.