A look at the day ahead in European and global markets from Rae Wee

Investors have chosen, at least for now, to look past simmering U.S.-China trade tensions, taking comfort instead from Federal Reserve Chair Jerome Powell’s remarks hinting at more rate cuts on the horizon.

Global shares were once again upbeat on Wednesday, with European futures pointing to a sharply higher open, after a volatile session the previous day owing largely to trade whiplash.

Markets may have Powell to thank for the reprieve, after his comments on Tuesday reinforced expectations of further easing this year, alongside a potential end to the Fed’s balance sheet drawdown some time soon.

That in turn left the dollar down and gold extending its record run once again, with futures now pointing to roughly 48 basis

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