Asia Pacific markets are set to rise today in response to good reports from US companies. Shares rose despite another ratcheting up of trade barriers, this time from China, and comments around currencies from the White House. The British Pound lifted on stronger jobs and wages numbers. Bonds and precious metals were steady, and industrial commodities held or added to recent gains.

In the US fourteen members of the S&P500 reported, and all beat forecasts. Although only 10% have reported this season the early indication of growth in earnings of around 29% is supports recent positive market moves.

The general risk on moves could indicate investors are applying the law of diminishing returns to political rhetoric. The measured responses of US trading partners has soothed market worries, and there was little reaction to China’s imposition of a 179% tariff on sorghum imports. This emerging approach may see regional markets better the modest gains in futures trading overnight.

Japanese trade data and China home prices drop today. The importance of Chinese consumer activity to global growth means a read away from the consensus estimate of a 0.25% lift in home prices in March could shape the trading day.