EURUSD, AUDUSD, USDJPY and the S&P 500 all advanced Thursday. For most, this looks like the kind of correlation that speaks towards an underlying swell in risk appetite trends - the sort of driver that can keep the markets moving in a single direction. Yet, when we look at the fundamental developments for the day, we find well placed catalysts for the individual performance of various risk trend benchmarks. Absent though was a development that spoke to true investor confidence. In today's video, we discuss whether Thursday's surge is itself a self-supported 'risk on' development or a piecemeal effort that will reverse course.

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