Risk in a more cheerful spot so far on the day

European equities and US futures are keeping higher

Major European indices are keeping decent gains – a little under 1% – mid-way through London morning trade with S&P futures also seen higher by ~0.5% currently.

E-minis 05-08
All in all, this is keeping the dollar in a weaker spot as we see EUR/USD at session highs around 1.1840-45 with GBP/USD attempting to try and move back above 1.3100. Meanwhile, AUD/USD is up 0.6% and sitting just above the 0.7200 handle for now.
Elsewhere, gold continues to look perky as it keeps firmer by 0.8% to $2,035. Silver is also a standout performer, extending gains by over 2% to $26.61 currently.
In the bigger picture, Treasuries will remain a key focus to watch as we potentially start to see yields fall lower in the coming weeks:
10-year yields are up by nearly 2 bps to 0.526% today but are slowly trying to clear a path under the April low at 0.539%. If Treasuries are able to rally further, that may present more mixed emotions in the market and will be something to consider – especially if 10-year yields start to track towards its March lows.
In any case, lower yields will just add to tailwinds for gold and silver in the long-term so there’s that to also consider despite some concerns about technical exhaustion this week.