European futures are pointing higher by a little over 1% and that mirrors the mood seen in US futures on the day as well. S&P 500 futures are now up 1.2%, Nasdaq futures up 1.5%, and Dow futures up 0.9% ahead of European trading.
The more positive mood is also amped up a fair bit more after US president Biden said that China trade tariffs may be under consideration for being reduced/lifted.
After a torrid seven weeks - more or less - for risk assets, we might finally get some reprieve. It may be an overdue one from a technical perspective but fundamentally, the overarching theme involving recession risks, surging inflation, and central bank tightening is still very much at play in the bigger picture. So, just be mindful of that.
For now, the broader risk recovery is seen elsewhere too. US 10-year yields are up 5 bps to 2.837% while the dollar is dragged lower across the board with the antipodeans leading the charge. AUD/USD is up 1% to above 0.7100 again:
