A look at the day ahead in European and global markets from Rocky Swift A central bank Who's Who is due to speak in Sintra, Portugal today as policymakers grapple with an uncertain landscape for trade
Uncertainty Takes Center Stage at ECB Forum in Sintra, Portugal
A look at the day ahead in European and global markets from Rocky Swift
A central bank Who's Who is due to speak in Sintra, Portugal today as policymakers grapple with an uncertain landscape for trade, growth and inflation.
Uncertainty was the key theme in opening remarks from European Central Bank President Christine Lagarde on Monday at the ECB's annual forum for central bankers. Lagarde is scheduled to join a panel with central bank heads from the United States, Japan, Britain and South Korea at 1330 GMT.
And uncertainty remains over U.S. President Donald Trump's "One, Big, Beautiful Bill," which remains logjammed at the Senate. Trump is desperate to get it passed before America's "Independence Day" on July 4, while deadlines over his "Liberation Day" tariffs loom over trade negotiations.
Trump called Japan "spoiled" as a trade deal between the two nations remained elusive, and U.S. Treasury Secretary Scott Bessent warned that countries could be notified of sharply higher tariffs.
Except for Japan's Nikkei, equity markets were broadly higher in Asia, with benchmark indexes in South Korea and Taiwan climbing more than 1.4%. Fresh readings from the Bank of Japan's tankan index and China's Caixin PMI indicated Asia's biggest economies were weathering the tariff storm, at least for now.
Euro Stoxx 50 futures pointed to a flat opening, while German DAX futures were up about 0.1%. U.S. stock futures, the S&P 500 e-minis, were down 0.1%.
The euro continued its winning days, poised for a record 10th consecutive day of gains against the U.S. dollar, reaching $1.1808, the highest since September 2021.
Key developments that could influence markets on Tuesday:
- ECB's Sintra conference policy panel
- U.S. ISM manufacturing data for June
- Manufacturing Purchasing Managers Indexes (PMI) data for France, Germany, and Euro Zone for June
- UK house prices for June
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(Editing by Jacqueline Wong)
