After two strong sessions, the international bulls took their foot off the pedal overnight.

Most indices still recorded gains but they were modest compared to the moves seen in the previous two sessions.

In Europe the CAC added 0.2% whilst the DAX gave up 0.5%. The FTSE jumped 139 points (+2.7%) but this anomaly was caused due to the fact that the index was closed during the previous session and had to play catch-up.

In the US the Dow added just 21 points (+0.2%) to settle at 11560, whilst the S&P 500 gained 0.2% and the Nasdaq added 0.6%.

US stocks held up despite confidence among consumers plunging to the lowest level in more than two years.

The euro softened against most major counterparts amid speculation the ECB has finished raising interest rates as the region's sovereign-debt crisis crimps economic growth.

The yen gained against 12 of its 16 most traded peers amid the latest US confidence numbers which increased demand for safe haven currencies.

Oil rose to its highest level in almost a month, adding US$1.63 (+1.9%) to settle at US$88.90 a barrel as refineries struggle to come back online after Irene.

Today's session will bring us data in the form of private sector credit, at 11:30am, AEST.