Market Commentary: Wednesday 26th February

Markets have been generally steady as they digest a weaker U.S. consumer confidence reading.

Nvidia earnings reports later today will further test equity markets.

Chances for earlier action on tax cut plans improved as House Republicans passed a budget blueprint on Tuesday.

Hong Kong equities surged, driven by optimism surrounding China's technological breakthroughs.

In Europe, Ukraine agreed with the U.S. on a deal to jointly develop its natural resources, with a focus on minerals. There is potential for this to alleviate tensions with the U.S. and aid further progress on a Russia ceasefire.

Copper futures surged after Trump ordered the U.S. Commerce Department to examine possible import tariffs on all forms of the metal.

U.S. New Home Sales and Crude Oil Inventories will be the main releases for today, outside of the Nvidia report.

Overnight, the euro fell 0.2%, with similar price movement in sterling.

Cryptos were relatively unchanged after yesterday's sell-off.

Gold is now sitting around the 2,910 level.