In the European and global markets, attention is focused on a call between Donald Trump and Russian President Vladimir Putin, concerning a ceasefire and peace deal in Ukraine. This conversation precedes a series of central bank meetings scheduled for later this week.
Traders are currently experiencing a period of stability, where progress towards peace could potentially lead to a decrease in European gas prices and a rise in the value of the euro. Trump alluded to discussing various topics with Putin, suggesting the possibility of reaching an agreement.
Despite Putin's familiar demands, European Union foreign policy chief Kaja Kallas remarked on Russia's reluctance for genuine peace by highlighting the stringent conditions set for a ceasefire. In the Asian market, China's positive performance acted as a counterbalance to Trump's impact on U.S. markets and growth projections.
Significant gains were observed in various sectors, including mining, automakers, technology, and retail, with the Hang Seng hitting a three-year high. New Zealand's dollar also saw an increase due to concerns among short-sellers regarding the country's reliance on Chinese consumers for dairy exports.
Investors are eagerly anticipating Nvidia's upcoming software developer conference, where CEO Jensen Huang will emphasize the company's dominance in the chip industry. The event is expected to unveil details about a new chip system named Vera Rubin.
Looking ahead, central bank meetings in various countries like and will round out the week. Key market influences on Tuesday include the Trump-Putin call and the release of German ZEW surveys.