European Shares Seen Opening Up As Tariff Worries Ease

RTTNews | 60 days ago

(RTTNews) - European stocks may open on a positive note Friday as temporary tariff relief help ease economic worries.

Following U.S. President Donald Trump's tariff reversal, the European Union has put on hold the countermeasures against Trump's sweeping tariffs for 90 days.

Trump said there will be a transition cost, and transition problems due to tariffs, but in the end, it's going to be a beautiful thing.

In another development, Trump has threatened Mexico with sanctions and tariffs in a dispute over water sharing.

In economic news, U.S. reports on producer price inflation and consumer sentiment may garner some attention later in the day.

The first-quarter U.S. earnings season officially gets underway today, with JPMorganChase, Morgan Stanley and Wells Fargo expected to post underwhelming results due to ongoing uncertainty surrounding tariffs.

Closer home, monthly GDP estimates, industrial production and foreign trade from the U.K. and final inflation data from Germany are awaited later in the day.

Asian markets were broadly lower, with Japan's Nikkei falling more than 4 percent as the dollar slumped 1 percent to 142.88 yen, its lowest since September 30 on safe-haven bets.

Chinese and Hong Kong stocks clung to gains as investors bet on stimulus to support the economy. There were concerns that the U.S.-China trade war will probably get worse before it gets better.

Bonds dropped and the dollar weakened, while the Swiss franc touched the highest level in a decade and gold set a new high on safe-haven demand. Oil edged up slightly but headed for a second weekly loss on demand concerns.

U.S. stocks ended lower overnight after a historic rally seen in the previous session in response to the temporary tariff relief.

President Trump didn't rule out extending his 90-day tariff pause but said if the White House can't come to new agreements with its trading partners, the steeper rates would go back into effect.

In economic releases, U.S. inflation cooled broadly in March while there has been a slight increase in jobless claims last week.

The tech-heavy Nasdaq Composite plunged 4.3 percent as the White House confirmed that the cumulative tariff rate on China would actually total 145 percent. The S&P 500 tumbled 3.5 percent and the Dow lost 2.5 percent.

European shares logged their biggest one-day gains since 2022 on Thursday after Trump decided to delay new tariffs by 90 days.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | 20 minutes ago

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | 26 minutes ago

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | 1h 7min ago

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 2h 32min ago

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 2h 48min ago

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 3h 55min ago

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | 4h 31min ago

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | 7h 26min ago

EURUSD	1.14222	GBPUSD	1.34987	AUDUSD	0.6521
USDJPY	144.901	USDCAD	1.36753	USDCHF	0.82271

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European Shares Seen Opening Up As Tariff Worries Ease