European markets set to return from the long Easter break with a positive open
European markets are expected to return from the long Easter weekend on a positive note.
The U.K.’s FTSE 100 index is expected to open 60 points higher at 8,254, Germany’s DAX up 253 points at 21,064, France’s CAC 81 points higher at 7,241 and Italy’s FTSE MIB 441 points higher at 34,967, according to data from IG.
There are no major earnings or data releases from Europe Tuesday but traders will be keeping an eye on news and comment out of the IMF-World Bank Spring meetings in Washington this week, where the threat and fallout from U.S. President Donald Trump’s tariffs regime is likely to dominate discussions.
Asia-Pacific markets were subdued overnight, tracking Wall Street’s sharp sell-off after Trump doubled down on his pressure campaign on Federal Reserve Chairman Jerome Powell.
Trump posted on Truth Social on Monday that the economy would slow if the Fed did not cut interest rates. In the latest of multiple recent posts calling out Powell by name, he called the Fed chief “Mr. Too Late” and a “major loser.”
Trump hinted at Powell’s “termination” last week, an unprecedented action that White House economic advisor Kevin Hassett said the president’s team was currently studying. Powell has said he cannot be fired under law and intends to serve through the end of his term in May 2026.
The euro was around 0.2% higher against the dollar by 7:08 a.m. in London, trading at $1.154.
Meanwhile, the British pound gained almost 0.3% against the greenback to trade at $1.341, and the Swiss franc was 0.1% higher.
The U.S. dollar has been on a largely downward trajectory since U.S. President Donald Trump’s so-called liberation day tariffs sparked widespread market volatility earlier this month, even after the levies were paused for 90 days for most countries.
Source: CNBC
