Global stocks rose and the euro appreciated on Monday after a trade agreement between the United States and the EU lifted sentiment and provided some clarity in a week of key policy meetings by the Federal Reserve and the Bank of Japan.

The U.S. and EU reached a framework trade agreement, imposing a 15% import tariff to prevent a larger conflict over trade. While some European leaders express disappointment, it is viewed as a way to bring predictability to the market.

EU will pay 15% tariffs and buy hundreds of billions of dollars in energy products and military equipment from US.