The FTSE, CAC and DAX have started the trading week with solid gains, rising between 0.3% and 0.6% at the open.

Most of this move is a follow on from the strong performance of US equities on Friday evening. Up until half an hour before the markets opened, European shares were set for an even bigger gain after a positive opening from Asian markets.

However, just before the open there was a slight lurch in favour of the sellers and European markets pared their gains. Still, the bulls can be reasonably happy with their lot and the rally continues.

Today there are very few economic announcements of note. At 09.00 BST we have European Industrial new orders and Canadian retail sales at 12.30 BST.

Commodity Bulls Buy into AUD/JPY

The Dollar is holding up reasonably well this morning, making small gains against the Euro and Pound. The Yen hasn’t has such a good morning, but has at least managed to reduce the morning’s opening deficit at the start of the London session.

The AUD/JPY is one of the day’s biggest gainers as commodity bulls buy into the currency. It’s up 0.9%, but off the peak of the day. A Fixed Odds No Touch Higher could be a way to play this if the slight pullback continues and, with the trigger set to ¥80.00 over 1 day, could return 147%.

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