Global Markets Brace for US Earnings Amid Trade Tensions

Global markets remained buoyant with shares climbing and the dollar holding steady as focus shifted to a key week for US earnings, trade talks, and inflation data. Oil prices fell slightly following President Trump's 50-day deadline for Russia regarding the Ukraine conflict, alongside tariff discussion opportunities involving the EU and Japan.

Global shares experienced an upswing while the dollar maintained its gains on Tuesday as market players anticipated a crucial week for US earnings, inflation metrics, and trade negotiations with hopeful anticipation. A slight decrease in oil prices followed US President Donald Trump's 50-day ultimatum for Russia to conclude the Ukraine conflict to avert energy sanctions.

Amid fresh discussions about imposing tariffs, Trump expressed willingness to negotiate after previously threatening 30% duties on the EU and Mexico from August 1. Japan plans to arrange talks with the US, emphasizing the importance of US earnings this week for market signals despite prevailing tariff uncertainties.

Equities received a boost from Nvidia's decision to resume sales of H20 chips to China, with Asia-Pacific shares rising 0.8% and European stocks advancing 0.2%. In response to potential US tariffs, the EU has warned of countermeasures if no trade deal is reached, while Japan's government bonds saw increased yields ahead of possible tariffs implementation.

(With inputs from agencies.)