Internationals bourses enjoyed a reprieve last night, with markets in Europe and the US posting gains.

The FTSE added 0.9%, whilst the CAC (+1.4%) and DAX (+1.9%) were even stronger, even whilst investors remained cautious due to Europe's debt woes.

Stateside the Dow Jones added 45 points (+0.4%) to settle at 11106, trading in a 154-point range.

The broader S&P 500 gained 0.9% whilst the tech-heavy Nasdaq rallied 1.5%.

It was the first time this month that US stocks notched back-to-back gains, led by industrial and technology plays.

On the economic front, US import prices retreated last month which indicates inflation pressures are muted. This could give policy makers room to further stimulate the economy.

The Canadian dollar rose from close to its lowest level in seven-months overnight as risk aversion eased and commodities stocks gained.

The euro also rose from close to its lowest level in 10-months against the greenback as recently beaten down European banks bounced back and traders sought increased risk.

Oil climbed above US$90 a barrel to its highest level in almost six-weeks amid speculation tonight's inventory report will show supplies fell in the US last week. Oil settled at US$90.21 a barrel.

Gold advanced, adding US$16.80 to settle at US$1830.10 an ounce, amid ongoing European debt concerns.

Today's session will bring us data in the form of Westpac Consumer Sentiment at 10:30am, AEST, and housing starts, at 11:30am, AEST.