05:48 AM EDT, 08/05/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Tuesday highlighted:

Markets: United States Treasuries open at the highs in Asia, then start to weaken. Equity futures are up. EUR remains close to $1.155. Brent drops below $68.7/barrel.

Fed: San Francisco Federal Reserve Bank President Mary Daly says "time is nearing for rate cuts" and she thinks more than two rate cuts are likely this year as evidence of labor market softening is mounting.

Tariffs: U.S. President Donald Trump is to "substantially" hike tariffs on India for purchasing Russian oil.

OECD warns that weak business investment threatens global growth.

Middle East: Israeli Prime Minister Benjamin Netanyahu is considering seizing the entire Gaza Strip.

==EUROPE:

Germany: Finance Minister Lars Klingbeil says the European Union was too weak in the U.S. trade deal. Says he will discuss quotas for European steel with U.S. Treasury Secretary Scott Bessent.

Lithuania: Finance minister to lead caretaker government until new cabinet is sworn in after PM resigned.

==ASIA:

China: Services PMI surprisingly increases 2pts to 52.6, while the consensus was 50.4.

Japan: Central bank (BoJ) Board members think cutting Japanese government bond purchases too fast may jeopardize market stability, and some saw scope to resume rate hikes if trade friction eases, according to minutes.