MORNING BID EUROPE-All eyes on Trump-Putin talk, and then on cenbank deluge

Reuters
Yesterday
MORNING BID EUROPE-All eyes on Trump-Putin talk, and then on cenbank deluge

A look at the day ahead in European and global markets from Tom Westbrook

A phone call between Donald Trump and his Russian counterpart Vladimir Putin is on markets' radar this morning as the U.S. pushes for a ceasefire and peace deal in Ukraine - ahead of a slew of central bank meetings later in the week.

The leaders' conversation takes place in a moment of calm for traders, with stocks stabilising and progress to peace likely to send European gas prices down and the euro higher.

Putin's demands seem familiar, but Trump said they would be talking about land, power plants and "dividing up certain assets" and that he thinks agreement is possible.

The European Union's foreign policy chief, Kaja Kallas, said on Monday the conditions demanded by Russia to agree to a ceasefire showed Moscow does not really want peace.

Trade in the Asia session was driven by another burst of enthusiasm for China, which has been an unlikely beneficiary of Trump's rattling of U.S. markets and growth expectations.

The latest push came from the release of another surprisingly weak U.S. retail sales report, and the White House confirming reciprocal tariffs will come into effect on April 2 - putting pressure on the dollar and hoisting gold XAU=.

At the same time China has announced some childcare subsidies and other consumer-friendly measures, while data on Monday showed small signs of a pickup in retail spending.

The Hang Seng .HSI notched a three-year peak and its almost 23% rise for the year so far is easily the largest of any major market. MKTS/GLOB

Gains were broad with miners, automakers, tech and retail stocks higher. The Shenzhen shares of electric-vehicle maker BYD 002594.SZ leapt to a record as the company unveiled a new platform it says can recharge electric cars as quickly as pumping gas.

The New Zealand dollar NZD=D3 was also at three-month highs with short-sellers seemingly spooked by New Zealand's exposure to China's consumers via dairy exports. NZD/

On investors' radar will be Nvidia's NVDA.O annual software developer conference, where CEO Jensen Huang, who will be delivering the keynote address on Tuesday, is expected to defend his nearly $3 trillion chip company's dominance as pressure mounts on its biggest customers to rein in the costs of artificial intelligence.

At the conference this week, Nvidia is also expected to reveal details of a chip system called Vera Rubin, the successor to its Blackwell chips.

Central bank meetings in Japan, the U.S., Britain, Sweden and Switzerland round out the week.

Key developments that could influence markets on Tuesday:

-Trump-Putin phone call

-German ZEW surveys

Contrasting fortunes: HK shares the best performing market in 2025 https://reut.rs/3R3QonQ

(Reporting by Tom Westbrook; Editing by Muralikumar Anantharaman)

((tom.westbrook@tr.com; +65 6973 8284;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10