- Markets in the Asia-Pacific zone are gaining during Tuesday’s session after yesterday, during somewhat limited trading due to a holiday in the US and the UK, some markets clearly gained on the wave of extension of the time of negotiations between the US and the European Union in the context of tariffs.
- However, the scale of these movements is limited and mainly comes down to the cash market, as index futures contracts are mostly losing value today. US100 is down 0.5%, JP225 is losing 0.1% at the same time, and DE40 is close to 0.15%.
- In China, we learned data on industrialists’ profits for April 2025, which came out better than expected. Data at the level of +3% y/y (previously +2.6%) is the best result since December and is a certain sign of some recovery in the Chinese manufacturing sector and stabilization of factory activity.
- Bank of Japan Governor Kazuo Ueda strengthened the yen this morning, indicating his intention to further raise the benchmark interest rate if the economy improves.
- The dollar is trying to regain some ground after a recent wave of selling. The EURUSD pair fell below 1.1370, while the dollar index jumped 99,000 in the same period.
- The dollar is the best performing currency among developed countries, while the biggest declines are recorded by currencies from the Antipodes.
- Precious metals and oil markets are dominated by declines. Natural gas (NATGAS) is recording small gains.
- Bitcoin is retreating 0.5% to trade near $108,000.
- Looking ahead, the day’s highlights include the German GfK data, eurozone sentiment, French CPI, durable goods and US consumer confidence. Central bankers, Villeroy from the ECB and Kashkari from the Fed will also speak publicly.
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