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US futures rise after Trump delays tariffs

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Investors' focus on Nvidia ( NVDA ) earnings, Fed speeches

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Dollar headed for fifth-straight monthly decline

By Rae Wee

SINGAPORE, May 27 (Reuters) - Asian shares eased on

Tuesday, though U.S. futures rose after President Donald Trump

delayed his threatened 50% duties on European Union shipments,

while the dollar was headed for a fifth straight monthly loss.

In Japan, yields on super-long government bonds fell early

in the session, retreating from their all-time highs in the wake

of last week's heavy selloff in the bonds.

Markets in the U.S. were closed on Monday for a holiday,

making for thin overnight trading conditions and leaving

investors latching on to lingering optimism from Trump's U-turn

on his threat to impose 50% tariffs on imports from the EU next

month, restoring a July 9 deadline.

Nasdaq futures were up 1.26% in Asia while S&P 500

futures similarly rose 1.11%. FTSE futures

advanced 0.94%. UK markets were also closed on Monday.

"It was a better night for risk assets, following Trump

deferring (EU tariffs) back to July 9," said Tony Sycamore, a

market analyst at IG.

"What I think probably is now the main driver for this week

is we've got the month-end rebalancing flows, which should start

to kick in anytime soon... Nvidia's ( NVDA ) earnings report again is

going to be front and centre in terms of what's going on there."

Results from Nvidia ( NVDA ) are due on Wednesday, where the

AI darling is expected to report a 65.9% jump in first-quarter

revenue.

Elsewhere, MSCI's broadest index of Asia-Pacific shares

outside Japan was down 0.17%, while Japan's

Nikkei similarly fell 0.15%.

China's CSI300 blue-chip index edged 0.06% lower

while the Shanghai Composite Index was little changed.

Hong Kong's Hang Seng Index dipped 0.1%.

Focus for investors this week will also be on speeches from

a slew of Federal Reserve policymakers and Friday's U.S. core

PCE price index, for clues on the outlook for U.S. rates.

A two-day annual conference hosted by the Bank of Japan

(BOJ) and its affiliated think tank kicked off on Tuesday, with

this year's gathering of global central bankers in Tokyo set to

focus on flagging economic growth and sticky inflation.

In currencies, the dollar struggled to find its footing and

was headed for a fifth straight month of declines against a

basket of currencies, which would mark the longest such

losing streak since 2017.

The euro hovered near a one-month high at

$1.14035, while the yen was up nearly 0.5% at 142.18

per dollar.

Trump's chaotic trade policies and concerns over the

worsening U.S. deficit outlook have undermined sentiment towards

U.S. assets and in turn been a drag on the dollar.

"A U.S. dollar regime change could be in the making in the

long term after it appears to have peaked recently," said David

Meier, an economist at Julius Baer.

"Erratic U.S. policymaking, the tense fiscal situation, and

large external indebtedness, against the backdrop of the twin

deficit, suggest that a weaker USD is the route of least

resistance."

And as the dollar loses some of its safe-haven appeal,

investors have instead sought alternatives such as gold, sending

prices to record highs this year.

It last traded 0.28% lower at $3,332.91 an ounce.

Elsewhere, oil prices eased on Tuesday as investors weighed

the possibility of an OPEC+ decision to further increase its

crude oil output at a meeting later this week.

Brent crude futures eased 0.1% to $64.67 a barrel,

while U.S. West Texas Intermediate crude fell 0.16% to

$61.43 per barrel.