Just about the only thing that is open in European markets today

This mainly mirrors the more positive sentiment seen in US equity futures, with E-minis being up by 0.4% as we begin the session. As a reminder, it's May Day today so pretty much all of Europe is on holiday.

Hence, expect thinner liquidity conditions to prevail in the session ahead and possibly a more quiet morning as well with traders keeping one eye on the FOMC meeting that is to come later in North American trading.