European equities are moving higher as US equity futures pare losses as well

Risk is starting to improve in the market as it looks like European investors are shrugging off the potential tariffs announcement from the US on China. Spain's IBEX remains the red spot as banking stocks are leading losses there - BBVA and Santander, notably due to EM exposure worries.

But despite the improved mood here, bond yields remain flat on the day and we're not seeing any real change in the currencies market as well.

The pound is the one leading gains as buyers remain buoyant of a possible Brexit agreement as they continue to defend key near-term levels across multiple pound pairs. But beyond that, the yen and the swissie are still the two other leading currencies on the day.

Meanwhile, the dollar is lagging behind after running into light offers in the last hour.

Anyway, with equities starting to track higher we could see a delayed spillover effect to currencies so just be wary of that as we head into US trading.