US futures rip higher to start the session

S&P 500 futures extend gains to over 1% in the European morning

E-minis 07-04

This is fueling a more risk-on mood in the market to start the day with risk/commodity currencies continuing to stay underpinned. The aussie is touching a session high of 0.6167 against the dollar currently.

For some context, US futures were down by 0.5% towards the tail end of Asia Pacific trading so that makes the jump higher here all the more impressive.

Are we going to get another surprise like this later in the day?

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