There was already the opening gap higher from early today as Trump floated "a very good" meeting with China over the weekend. S&P 500 futures were up 1.5% before doubling gains to be up by roughly 3% now. That comes after the joint statement by both sides, confirming the lowering of tariffs by 115% for 90 days as they seek further talks.
Since then, it's been quite straightforward trading on the session. There's not much let up in the optimism as equities continue to hold close to the highs. In Europe, the DAX is up 1.0% while the CAC 40 is up 1.4% as well.
As for FX, the dollar is also sitting at the highs for the day. EUR/USD is down 1.4% to 1.1090 while USD/JPY is up over 2% to 148.45 currently. Even AUD/USD has turned negative on the day with the pair down 0.4% to 0.6390 currently.
