Both US and European stocks posted gains, buoyed by the news of potential tariff exemptions. Bank stocks advanced on the back of better-than-expected earnings reports, while carmakers also benefited from the easing trade tensions. In commodities, prices were mixed. A softer US dollar supported firmer copper prices, while gold pulled back from record highs and oil prices edged lower. Closer to home, futures are pointing to modest gains for the ASX 200, and the Aussie dollar has firmed overnight.

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