Global markets surged overnight in one of the broadest rallies we're seen in a very long time.

Just about every type of instrument, save for US bonds and the US dollar, rallied from pillar to post.

European equity markets soared, with the FTSE adding 161 points (+2.9%) and the CAC and DAX incredibly adding 6.3% and 5.4% respectively.

Stateside, the Dow Jones added 340 points (+2.9%), whilst the broader S&P 500 jumped 3.4% and the Nasdaq gained 3.3%.

The euro rallied the most in more than a year against the greenback after European leaders agreed to expand a rescue fund for indebted nations and reached an accord with holders of Greek debt.

The yen rose to a record versus the US dollar for the fourth time in five days, amid speculation the BoJ will be unable to contain the currency's rally.

Whilst the moves in equity and currency markets were impressive, so too were the moves in commodity markets.

Copper was impressive, adding more than 6%, whilst crude oil (+4.2%) and Gold (+1.4%) were no slouches either.

There is not major local data due out for today's session.