06:15 AM EDT, 04/01/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Tuesday highlighted:

Markets: United States equities close higher, e-minis trade sideways in Asia, Asian equities recover. U.S. Treasuries recover into New York close, extend gains in Asia. US dollar softens, oil gains, gold hits new record.

Fed: New York Federal Reserve President John Williams "definitely" sees upside inflation risks from tariffs. Richmond Fed President Thomas Barkin says more cuts require more confidence on inflation.

Tariffs: U.S. President Donald Trump says reciprocal tariffs "will be lower than what they've been charging us, and in some cases maybe substantially lower." Treasury Secretary Scott Bessent says announcement will be at 3 p.m. ET on Wednesday. Republican senators support Democrat resolution to end national emergency used for February tariffs (Politico).

U.S.: Elon Musk plans to step down from DOGE at the end of May (Fox). Trump wants to keep him "as long as I can."

==EUROPE:

ECB: European Central Bank Governing Council members are open to a pause in April, dovish officials "may not insist" on a rate cut (Bloomberg sources).

The Netherlands: March HICP fell to 3.4% year over year while the consensus was 3.3%.

France: Marine Le Pen says "the rule of law has been totally violated" by the court decision. Far-right RN party chief Jordan Bardella calls for countrywide protests. Trump says conviction is "a very big deal."

==ASIA:

China: Caixin Manufacturing PMI beats expectations at 51.2 while the consensus was 50.6. China launches military drills around Taiwan. Foreign Minister Wang Yi says China and Russia are "friends forever, never enemies."