A look at the day ahead in European and global markets from Rocky Swift

With much of Asia shut for Lunar New Year holidays, all eyes turned to the Middle East ​on hopes that talks between the U.S. ‌and Iran will de-escalate geopolitical tensions.

Oil prices were higher and gold fell after U.S. ⁠President Donald Trump said that he would be involved "indirectly" in talks ⁠over Tehran's nuclear program set for Tuesday in ‌Geneva, adding he ‌believed Tehran wanted to make a deal.

Mainland Chinese, Hong Kong, Singapore, Taiwan and South ​Korea markets were closed, keeping activity ‌subdued in financial markets following a break in the U.S. for Presidents' Day.

With few catalysts on the day, ​traders looked ahead to other ​key data ‌points this week, including Fed minutes on Wednesday and U.S. GDP figures on Friday.

Britain, Canada and Japan are also due ⁠to publish inflation data this week. These price readings have ⁠become even more crucial for markets after the Reserve Bank of Australia earlier this month became the first major central bank, excluding Japan's special case, to raise rates after the post-COVID easing cycle.

The ⁠RBA ‌said on Tuesday it had concluded inflation would ‌stay stubbornly high if it had not hiked interest rates.

In early European ⁠trades, the pan-region Euro Stoxx 50 futures were down 0.35% to 5,975, German DAX futures slid 0.39% to 24,774, and FTSE futures lost 0.18% to 10,422. U.S. stock futures, the S&P 500 e-minis, were down 0.46% at 6,819.  

Key developments that could influence markets on Tuesday:

- Earnings from Kerry ​Group, InterContinental Hotels, Carrefour SA

- Germany CPI final for January

- ZEW surveys for euro zone, Germany

- UK jobs data

- Debt: reopening of ​2-year debt auction in Germany, ‌reopening of 2-year and 6-year auctions in the ​UK

(Editing by Shri Navaratnam)