Global Markets:
- Asian Stock Markets : Nikkei up 0.64%, Shanghai Composite up 0.28%, Hang Seng down 0.24%, ASX up 0.18%
- Commodities : Gold at $1871.05 (+0.41%), Silver at $21.83 (-0.09%), Brent Oil at $86.01 (-0.69%), WTI Oil at $79.28 (-1.07%)
- Rates : US 10-year yield at 3.694, UK 10-year yield at 3.435, Germany 10-year yield at 2.338
News & Data:
- (CHF) CPI m/m 0.60% vs 0.50% expected
- (NZD) Inflation Expectations q/q 3.30% vs 3.62% previous
- (GBP) Claimant Count Change -12.9K vs 17.9K expected
- (GBP) Average Earnings Index 3m/y 5.90% vs 6.20% expected
Markets Update:
Asian stocks rose on Tuesday, the dollar slipped, and Treasury bond yields remained pressured as investors remained convinced that key U.S. inflation data due later in the day would show an easing in price pressures on an annual basis.
Australian markets ended slightly higher after three consecutive sessions of losses. Chinese shares eked out modest gains after reports that U.S. Secretary of State Antony Blinken is considering meeting top Chinese diplomat Wang Yi at the Munich Security Conference this week. Japanese shares rose notably, and the yen advanced after the formal nomination of academic Kazuo Ueda as the next Bank of Japan governor.
Gold edged higher in Asian trading on dollar weakness while oil prices dropped around 1 percent after the U.S. government announced it would release more crude from its Strategic Petroleum Reserve (SPR) at a time when U.S. crude markets are flush with supply.
Upcoming Events:
- 01:30 PM GMT – (USD) CPI m/m
- 01:30 PM GMT – (USD) CPI y/y
- 01:30 PM GMT – (USD) Core CPI m/m
