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US futures pointing to further gains

This comes after a strong session yesterday, with the S&P 500 posting its best day since March 5 on better-than-expected earnings from banks, namely BofA, Morgan Stanley and Citigroup. Goldman Sachs will report later today.

For now, US futures are up around 0.3%, which again paints a more positive picture for European morning trading. If this continues, US stocks look poised to end the week higher despite the timid start to Monday and Tuesday.

In the forex market, the yen pairs continue to be the focus, with USD / JPY moving closer to the key 114.00 level despite bond yields looking somewhat sluggish over the past few days.

Commodity currencies are showing modest gains this week as such, with USD / CAD lingering on new three-month lows around 1.2355 and AUD / USD flirting with a firmer breakout of its 100-day moving average is currently 0.7417.

NZD / USD is still trading 0.3% today and is above its own 100-day moving average of 0.7020 to hold around 0.7050 for now.

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