International markets staged a strong comeback over the last 24-hours, although they remain well below the highs from last month.

The signs of life germinated from the Asian session yesterday, where the Aussie market staged a more than 7% turnaround from low to high.

In the European session the FTSE was the standout performer, adding 1.9%, whilst the CAC added 1.6%.

Stateside, the gains were far more pronounced. After suffering the sixth biggest single session fall in history the night before, the Dow surged 430 points (+4%) to settle back above 11000.

The broader S&P 500 fared even better, adding 4.7%, whilst the tech-heavy Nasdaq outpaced them all, adding 5.3%.

It was the biggest single-session jump for stocks in two years, rebounding from the worst drop since 2008.

The rally overnight was further fuelled by comments from the Fed which pledged to keep its benchmark rate at an all-time low whilst also discussing a range of policy tools to bolster the economy.

The yen fell against all 16 of its major counterparts overnight, with Asian market futures signalling equities will climb today, reducing demand for safe-haven assets.

Concerns that the BoJ will intervene and sell its currency after three strong sessions of gains against the USD also weighed on the yen.

Crude oil tumbled to its lowest level since September last year after the US Fed commented that risks to the economy have increased.

Elsewhere, gold surged to another record high before pulling back towards the end of the New York session.

In company news, CBA's cash profit rose 12% to a better than expected $6.84 billion (from $6.1 billion) on year.

Today’s session will bring us data in the form of the Westpac consumer sentiment reading, at 10:30am, AEST.