E-minis are up by 1.5% currently
If you're going to be checking whether or not the wheels of the risk on train are about to come off, you only have to look at US equities to determine that later today. E-minis have scaled back some of their earlier gains but is still set for an explosive open later.
As mentioned earlier, the widely differing statements between US and China could possibly have more to it but for now, risk is still in the driver's seat here ahead of North American trading.
In the currencies space, commodity currencies lead the charge while haven currencies are lagging behind; the pound is a whole other story though. Let's see if this will last the course until the end of the day or if the optimism from the headlines over the weekend will be tempered with in trading later. I reckon the degree of optimism will be scaled back a little but that won't stop solid gains for today at least. But let's see, shall we? Who knows, Trump may still have a tweet or two in him to muddy things on the day.