A mix of US data releases did little to shift that view, while reports that White House economic adviser Kevin Hassett is now the frontrunner for Fed Chair added to expectations of a more rate-friendly policy approach. The development has limited further strength in the US dollar and continued to lend support to commodities.

Tensions surrounding the Russia-Ukraine conflict resurfaced after President Vladimir Putin said a revised US framework could only underpin a peace deal if Ukraine withdraws from territories claimed by Russia, warning that Moscow would take the land by force otherwise. Ukraine has rejected any territorial concessions. Kremlin spokesman Dmitry Peskov said an agreement remains far off, while President Trump indicated optimism that progress is within reach. 

Check out today's analysis for more market updates!