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WORLD HEADLINES – Stock markets in Asia and Europe regained ground on Tuesday after U.S. President Donald Trump faced growing pressure from political allies to pull back from proposed steel and aluminum tariffs and a potential global trade war.
STOCKS – Futures on the S&P 500 Index rose to the highest in a week as risk on sentiment extended during the overnight trading session.
BONDS – U.S. 10-year bond yields had reared back up to 2.8888 percent on Monday and most euro zone yields – with the exception of those in Italy – were following suit with German Bunds off a five-week low at 0.65 percent.
COMMODITIES – Crude oil prices held firm, underpinned by robust demand forecasts and prospects for informal contacts sought by OPEC with U.S. shale oil producers at an industry meeting in Houston this week.
CURRENCIES – The US dollar traded lower and the T euro traded at $1.2340, having extend its recovery from a seven-week low of $1.2154.
ECONOMIC DATA – FOMC Member Dudley Speaks at 7:30, MPC Member Haldane Speaks at 13:15, RBA Gov Lowe Speaks at 16:35, AUD GDP q/q at 19:30 ET.
