It was a bit of a mixed session for Asian equities as Japanese stocks fell while Chinese stocks are holding firm despite poor industrial profits data earlier today. That said, the Nikkei is closing near its highs for the day and we’re also seeing sentiment in US equity futures beginning to get a little better.

S&P 500 futures are now up by 0.2% as we move towards European trading. However, Treasury yields remain slightly softer and the mixed tone isn’t really lending a helping hand to currency traders so far today. USD/JPY sits near unchanged levels currently at 110.60.

I would expect European equities to view things with a glass half-full look so the open should see mild gains but nothing that should stir risk assets to rally all too much.