S&P 500 futures move to positive territory

E-minis 08-01

Is this the real turning point on the day for risk sentiment? Only time will tell. We still await US president Trump's response and that will be the ultimate decider.

For now, European equities are also paring their earlier losses though they still sit in the red - but mildly. Bonds are a little bid but so far the pessimistic mood remains more modest.

In the currencies space, USD/JPY is near session highs now around 108.50 as market participants continue to see fears on US-Iran tensions ebb in general.