FX.co ★ European Shares Likely To Open On Steady Note

European stocks are expected to open steadily on Tuesday, following record highs in the S&P 500 and Nasdaq, driven by gains in the technology sector fueled by enthusiasm for artificial intelligence.

With indications of easing inflation in the United States, investors are keenly awaiting further U.S. economic data and statements from Federal Reserve officials this week to gather more insights into the Fed's future rate decisions.

Investor attention today may be influenced by reactions to U.S. reports on retail sales and industrial production.

In Europe, the Eurozone's final inflation data and Germany's ZEW economic confidence survey results are likely to capture investor focus.

This week, central banks in Norway, the U.K., and Switzerland are scheduled to meet. While Norway and the U.K. are expected to maintain their current interest rates, the Swiss National Bank is anticipated to reduce rates by another 25 basis points.

U.K. inflation figures, due on Wednesday, will be closely watched.

Asian markets mirrored Wall Street's upward movement as speculation about Fed rate cuts gained traction.

Philadelphia Federal Reserve President Patrick Harker suggested on Monday that a single rate cut "would be appropriate by year's end" given the present trajectory of inflation and the U.S. economy.

Today, the Reserve Bank of Australia decided to keep the official cash rate steady at 4.35 percent, but noted that "inflation remains above target and is proving persistent."

Meanwhile, Bank of Japan Governor Kazuo Ueda indicated that the central bank might increase interest rates next month.

China's commerce ministry has launched an anti-dumping investigation into imported pork and its by-products from the European Union, in response to the European Commission's decision to impose tariffs on imported Chinese electric vehicles starting from July.

The dollar weakened and U.S. Treasury yields softened, aiding a rise in gold prices.

Oil prices continued their upward trend due to an improved demand outlook and investor confidence that OPEC+ might reconsider plans to increase oil supplies in the latter part of the year.

U.S. stocks closed higher on Monday as investors awaited a series of economic data and comments from Federal Reserve officials later in the week.

Treasury yields increased after data showed that manufacturing activity in the New York region contracted at a slower rate in June, with optimism about the six-month outlook for business activity reaching a more than two-year high.

The Nasdaq Composite and the S&P 500 advanced by 1 percent and 0.8 percent, respectively, setting new record closing highs amid ongoing momentum for major tech stocks. The Dow Jones Industrial Average rose by 0.5 percent.

European stocks closed mostly higher on Monday after experiencing their worst week since October, exacerbated by political unrest in France.

The pan-European STOXX 600 ended flat with a slight positive trend. Germany's DAX rose 0.4 percent, France's CAC 40 increased by 0.9 percent, while the U.K.'s FTSE 100 closed slightly lower.