Global stocks are rising and the euro is gaining value following a trade agreement reached between the EU and the US in Scotland on Sunday. The agreement involves a 15 percent tariff on all European goods entering the US, a compromise from the initially threatened higher rate.

While the EU isn’t celebrating, this agreement prevents a larger trade war. Stock futures on the S&P 500 rose by 0.4 percent, and European stock contracts increased by one percent. However, Asian stock markets are largely down on Monday morning.

The trade agreement, brokered between EU Commission President Ursula von der Leyen and US President Donald Trump, includes European investments of $600 billion in the US and increased European purchases of energy and defense products. The 15 percent tariff will apply to cars, medicine, and chips, while the US will maintain its 50 percent tariff on steel and aluminum for now.

In other news, negotiations between the US and China are set to resume in Stockholm on Monday, coinciding with the expiration of the current ceasefire between the two economic superpowers on August 12.

Danish consumer spending on entertainment is at an all-time high, despite economic concerns. Economist Helge Pedersen suggests that consumer confidence may not be a reliable indicator at present due to savings accumulated during the pandemic.

The Danish government’s “Arne pension” scheme is facing challenges, with the number of participants declining, while a capital fund involving wealthy individuals is facing bankruptcy due to tax claims.

Finally, homeowners can expect stable interest rates in the autumn, with limited potential for further decreases.