European Markets React to Upcoming U.S. Tariffs and Economic Data

As the trading week began, European markets opened lower, with investors closely monitoring the impending U.S. tariffs effective from April 2 and digesting the latest economic data from the region.

Key Economic Indicators from Germany and Beyond

Germany reported a 4.9% increase in retail sales for February, offering a glimmer of hope amidst the market downturn. Meanwhile, the financial community awaits further insights from the United Kingdom's mortgage approvals, Italy's consumer price index, and the Bank of England's Quarterly Bulletin.

Market Performance Highlights

The DAX fell by 0.97%, with Siemens leading the decline at 3.40%. The FTSE 100 and Euro Stoxx 50 also saw decreases, with notable drops from Associated British Foods and BASF. The CAC 40 wasn't spared, with Teleperformance dragging it down by 2.12%.

Currency Movements

In currency markets, the euro and pound sterling showed modest gains against the dollar, reflecting the cautious optimism among traders.