Euro Peaks Amid Ukraine's Ceasefire Decision

The euro surged to five-month highs following Ukraine's acceptance of a U.S.-proposed ceasefire. European stocks climbed with U.S. plans to reinstate military aid to Ukraine. Meanwhile, shifts in U.S. tariff policies and economic slowdown concerns dominated market movements, affecting stocks and currencies globally.

The Euro reached a notable peak, hitting five-month highs as Ukraine announced its willingness to adhere to a month-long ceasefire proposal by the United States. This news caused a stir in global markets, with European equity futures advancing and the FTSE index also showing positive momentum.

The situation has left investors on edge as shifts in U.S. trade policy, combined with fears of a potential economic slowdown, contribute to market unpredictability. Notably, the S&P 500 almost reached a 10% decline from its record high in February, experiencing a turbulent session with significant fluctuations.

Amid these developments, travel and retail sectors bore the brunt, with Delta Air Lines lowering its profit forecast, and Dick's Sporting Goods and Kohl's Corp reporting dismal financial outcomes. Additionally, the global economic focus is on impending U.S. tariffs and economic data, alongside the central bank's meeting in Canada to assess their stance amid ongoing trade tensions.

(With inputs from agencies.)