Shares dither, dollar falls as trade angst persists
European stocks ended nominally higher as investors weighed trade anxieties against a report that euro zone inflation has eased below the European Central Bank's target, paving the way for further policy easing.
MSCI's gauge of stocks across the globe rose 2.64 points, or 0.30%, to 885.52.
The pan-European STOXX 600 index rose 0.09%, while Europe's broad FTSEurofirst 300 index rose 3.80 points, or 0.17%
Emerging market stocks rose 3.67 points, or 0.32%, to 1,157.44. MSCI's broadest index of Asia-Pacific shares outside Japan closed higher by 0.37%, to 609.73, while Japan's Nikkei fell 23.86 points, or 0.06%, to 37,446.81.
The dollar bounced back from a six-week low, even as concerns persisted over potential economic damage in the wake of Trump's trade war.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.71% to 99.28, with the euro down 0.62% at $1.137.
Against the Japanese yen, the dollar strengthened 0.93% to 144.02.
Longer-dated U.S. Treasury yields dipped as investors awaited new developments in trade talks, but were off initial lows in the wake of economic data.
The yield on benchmark U.S. 10-year notes fell 1 basis point to 4.452%, from 4.462% late on Monday.
The 30-year bond yield fell 1.8 basis points to 4.9769% from 4.995% late on Monday.
The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, rose 0.8 basis points to 3.953%, from 3.945% late on Monday.
Crude prices extended gains, supported by geopolitical concerns as the war in Ukraine intensified and Iran appeared poised to reject a U.S. nuclear deal proposal.
U.S. crude rose 1.42% to settle at $63.41 per barrel, while Brent settled at $65.63 per barrel, up 1.55% on the day.
Gold prices retreated from a nearly four-week high amid profit-taking and in opposition to the strengthening dollar.
Spot gold fell 0.78% to $3,352.87 an ounce. U.S. gold futures fell 0.59% to $3,350.60 an ounce.
(Reporting by Stephen Culp; Additional reporting by Rae Wee and Linda Pasquini; editing by Mark Heinrich, Richard Chang and Sandra Maler)
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