* US Stocks close higher with DJ +0.38%, S+P +0.45% and Nasdaq +0.42% after Trump signs tariffs that exempt Mexico and Canada indefinitely other countries can apply for exemptions.
* US Tariffs to take effect in 15 days with 10% charges on aluminium and 25% on steel imports.
* EU, China, Japan said they will retaliate if tariffs get implemented.
* Asian stocks follow higher with added news that Trump accepts invitation to meet North Korean leader, Kim Jong Un by May, with N Korea committed to stopping nuclear missile tests.
* IF it goes ahead, it will be the first time leaders from the two countries have met and sanctions will remain until an agreement is reached.
* BoJ kept policy and economic assessment unchanged as expected, in 8-1 vote with Kataoka dissenting again
* China CPI jumping by 1.2% last month, driven higher by a sharp lift in food prices,leaving the increase on a year earlier at 2.9%, (cons: 2.5%), highest since 2013.
* Fed George (non-voting hawk) sees economic risks “predominately to the upside” amid faster global growth and tax reform. Important for Fed to continue normalisation.
* ECB sources say Council has broad agreement that QE should come to halt by end of 2018. It started discussing language of interest rates, step likely later this year to manage expectations. Council members did not express unease over market’s rate path. Staff calculations assume €30bn net purchases in Q4.
* Data today has seen German Ind Prod -0.1%m/m (est +0.6%)
* French Ind prod/Mfg prod due at 7.45am.
* UK IP/Mfg Prod due at 9.30am
* US payroll employment data at 1.30pm and wholesale inventories at 3pm.
* Afternoon Speakers include Feds Evans and Rosengren.