European indices will open lower with the euro at one-month highs | markets

Asian stocks fell today as relief from rising Wall Street was interrupted by a pullback in futures while the euro remains near one-month highs with the European Central Bank’s chances of raising interest rates in July.

After yesterday’s close, Nasdaq futures fell 1.5%, as traders blamed Snap’s earnings warning for sending Snapchat owner’s shares down 28%.

S&P 500 futures fell 0.9% after closing 1.8% higher yesterday. For its part, in Europe, the Euro Stoxx 50 index futures fell 0.5%, and Ftse futures fell 0.6%.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.8% in thin trade. Japan’s Nikkei fell 0.8% and Chinese stocks fell 1.1%.

Markets were reassured by US President Joe Biden’s comment that he was considering lowering tariffs on China, and by comments from Beijing. The stimulus promises from Beijing.

The European Central Bank has also become more aggressive. Christine Lagarde, president of the European Central Bank, was surprised to open the door to a rate hike as early as July.

The euro stands at $1.0665 after jumping 1.2% overnight in its best session since early March. It is now facing strong resistance on the chart around $1.0756. The dollar also fell against the British pound and a number of currencies.

Oil prices are caught between concerns about a possible global slowdown, the possibility of higher fuel demand due to the summer driving season in the United States, and Shanghai’s plans to reopen after a two-month shutdown due to the coronavirus.

US crude fell 66 cents to $109.63 a barrel, while Brent crude fell 70 cents to $112.74.