Global Markets:
- Asian Stock Markets : Nikkei up 0.04%, Shanghai Composite up 0.55%, Hang Seng up 0.69%, ASX up 1.50%
- Commodities : Gold at $1938.75 (+0.36%), Silver at $23.38 (+0.16%), Brent Oil at $78.06 (+0.48%), WTI Oil at $73.42 (+0.60%)
- Rates : US 10-year yield at 3.974, UK 10-year yield at 4.665, Germany 10-year yield at 2.612
News & Data:
- (USD) Consumer Credit m/m 7.2B vs 21.1B expected
- (GBP) BRC Retail sales Monitor y/y 4.2% vs 4.6% expected
- (JPY) M2 Money Stock y/y 2.6% vs 2.7% expected
Markets Update:
Asian markets experienced a positive trend on Tuesday, mirroring the movements seen on Wall Street as U.S. markets broke a three-day losing streak. Japan’s Nikkei 225 managed to halt its five consecutive days of losses, closing slightly higher at 32,203.57, while the Topix saw a decline of 0.31%. South Korea’s Kospi had an impressive day, rising 1.66%, marking its largest one-day gain since February.
Meanwhile, Hong Kong’s Hang Seng index continued to extend its gains from the previous day, increasing by 0.69%. Mainland Chinese markets also joined the upward momentum, with the Shanghai Composite gaining 0.55% and the Shenzhen Component rising by 0.79%.
In Australia, the S&P/ASX 200 index saw a significant improvement, climbing 1.50% and closing at 7,108.9. This positive performance put an end to its five-day losing streak and marked its largest one-day gain in approximately seven months. Investors welcomed this upward movement, which brought a sense of relief to the Australian market after a period of persistent losses.
Investors across the globe are eagerly awaiting the release of inflation data later in the week, particularly the June inflation numbers from the U.S. These figures will provide crucial insights into the Federal Reserve’s future interest rate adjustments. Overnight in the U.S., the Dow Jones Industrial Average led the gains, adding 0.62%. The S&P 500 also experienced a modest increase of 0.24%, while the Nasdaq Composite gained 0.18%.
Upcoming Events:
- 10:00 AM GMT – USD NFIB Small Business Index
- 10:45 PM GMT – NZD Visitor Arrivals m/m
- 11:50 PM GMT – JPY Core Machinery Orders m/m
- 11:50 PM GMT – JPY PPI y/y
