Stocks & Euro Rise as Europe Floats Ukraine Plan – Asia Market Wrap
The Euro strengthened against Eastern European currencies as regional leaders hurried to offer Ukraine their support amid fears of a US retreat.
The common currency increased by 0.4% against the Dollar, beating its main counterparts. European equity-index futures indicated to a firmer opening, with Asian stocks rising. Bitcoin fell after a rise on Sunday, when Trump touted his plan for a strategic cryptocurrency reserve.
Markets are beginning the week with geopolitics dominating as European leaders form what Britain calls a ‘coalition of the willing’ to safeguard Ukraine following an Oval Office showdown between Trump and Zelenskiy. China is also set to hold its largest political meeting of the year, just as US tariffs threaten to undermine Beijing’s ability to drive economic growth.
Investors are waiting for word on any last-minute discussions to avoid a further increase in US trade tariffs on Chinese imports, which are slated to go into effect this week, along with levies on Mexico and Canada.
