US futures help to feed some calmer tones into the market

US futures surge higher in the past hour or so

While the more upbeat European PMI data may not be enough to turn around sentiment in the euro currency completely, it is proving to be enough to give equity investors some reason to be more cheerful on the session.

European indices are trading lower still but shaving off some of the earlier losses, but US futures have shot higher with S&P 500 futures up 0.4% and Nasdaq futures up 1.0% now – trading to the highs for the day.

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That is helping to see dollar gains ease a little but the greenback is still maintaining a slight advance across the board. EUR/USD is up to 1.1836 – a key level to watch as it marks support from the early March lows – while AUD/USD is back near flat levels at 0.7624.


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