A look at the day ahead in European and global markets from Tom Westbrook

Trade took a steadier tone in the Asia session on Tuesday, with metals prices stabilising and stocks generally recovering from a gold-and-silver-led wipeout on ‌Monday.

Rebounds in Tokyo and Seoul were sharp and Indian shares cheered a deal U.S. President ​Donald Trump announced on Truth Social to lower tariffs on Indian ‍goods in return for India quitting purchases of ⁠Russian oil.

As with ⁠other bilateral deals, there were few solid details and none around the timing but ‌it was enough to lift the ​rupee by more than 1%. [FRX/][EMRG/FRX]

Australia's currency traded more than 1% higher, too, after the central bank joined Japan ⁠as the only developed-world countries lifting ‍interest rates.

The ​25-basis point hike was mostly expected by markets and comes with inflation running above target and the labour market tight. ‍Investors have ramped up bets on a follow-up hike in May, which is priced at about 75%.

Ahead, the ECB's lending survey can help investors gauge credit demand in Europe and earnings from Alphabet and Amazon later in the week anchor the U.S. calendar.

Elsewhere, ​market talk ‍of a tax increase on gaming had Chinese internet stocks wobbly, while silver and gold were trying to find ​their footing. [.HK][GOL/]

Mining shares were accordingly higher in Australia, with rare earth miners also helped by Trump announcing plans for a strategic stockpile of critical minerals, backed by $10 billion in seed funding from the U.S. Export-Import Bank.

Elon Musk said on Monday that SpaceX has acquired his artificial-intelligence startup xAI in a ​record-setting deal that unifies Musk's AI and space ambitions.

Key developments that could influence markets on Tuesday:

- ECB bank lending survey

- Fed Bowman speaks

- U.S. earnings: PayPal, Pfizer, ‍Marathon and, after market close, AMD, Amcor and Mondelez

(Editing by Sam Holmes)