As well, markets are keeping an eye on developments on the Korean Peninsula as the USS Carl Vinson aircraft carrier-led battle group heads to the Sea of Japan.
Following the news, the euro traded at $1.0866 against the dollar, off the five-month high of $1.0935 hit earlier.
Nikkei futures in Chicago were up 0.26 percent at 18,925 and Osaka futures were higher by 0.29 percent at 18,930 compared to the benchmark close of 18,875.88 on Monday. Markets in Australia and New Zealand are closed for ANZAC day.
Over in the U.S., equities surged on the back of Macron’s victory in the first round of the French election. The Nasdaq posted a record session, gaining 1.24 percent or 73.3 points to close at 5,983.82. The Dow Jones industrial average added 1.05 percent or 216.13 points to end at 20,763.89 and the S&P 500 rose 1.08 percent or 25.46 points to finish at 2,374.15.
European markets also finished higher, with the Stoxx 600 index gaining around 3 percent and the French benchmark CAC 40 index surging more than 4 percent.
Investors stateside are also likely to eye U.S. President Donald Trump’s plans to accelerate tax reform plans. Trump is pushing for a 15 percent corporate tax rate even if it could potentially increase the budget deficit, the Wall Street Journal reported.
In currency news, the dollar traded against a basket of rivals at 99.043 after previously falling to the 98 handle on the back of euro strength. Against the yen, the greenback gave up gains to trade at 109.79. The Australian dollar was mostly flat at $0.7566.
Oil prices fell further on doubts over whether OPEC would extend output cuts till the end of the year. U.S. crude traded 39 cents lower to settle at $49.23 a barrel while Brent crude futures were off 36 cents to settle at $51.60.
On the economc calendar, South Korea reports April consumer confidence data at 5:00 am HK/SIN and Hong Kong March trade data is expected at 4:30 pm.