Global Markets:
- Asian Stock Markets : Nikkei down 0.03%, Shanghai Composite up 0.29%, Hang Seng up 0.53%, ASX down 0.46%
- Commodities : Gold at $1887.70 (+0.44%), Silver at $22.43 (+0.87%), Brent Oil at $82.44 (+1.79%), WTI Oil at $75.58 (+1.98%)
- Rates : US 10-year yield at 3.638, UK 10-year yield at 3.275, Germany 10-year yield at 2.302
News & Data:
- (AUD) Cash Rate 3.35% vs 3.35% expected
- (CAD) Ivey PMI 60.1 vs 42.3 expected
Markets Update:
Asian stock markets are trading mixed on Tuesday, following the broadly negative cues from Wall Street overnight, as traders remain cautious and continued to refrain from creating fresh long positions. They are likely to keep an eye on remarks by US Federal Reserve Chair Jerome Powell later in the day for additional clues about the outlook for further rate hikes.
Australia’s S&P/ASX200 was trading higher ahead of the Reserve Bank’s decision but slid into negative territory after the official cash rate was raised by 25 basis points. The benchmark index closed down nearly 0.5%. Japan’s Nikkei stock index also erased initial gains to ease about 0.1%. Hong Kong’s Hang Seng Index was trading 0.7% higher and China’s bluechip CSI300 Index was up 0.1%.
The dollar index, which tracks the greenback against a basket of major trading partner currencies, was down marginally at 103.45 from its U.S. trading levels. Crude oil prices climbed higher Monday on optimism energy demand from China will see a big jump after Saudi Arabia unexpectedly increased the prices of oil to be shipped to Asia.
Upcoming Events:
- 05:00 PM GMT – (USD) Fed Chair Powell Speaks
- 05:30 PM GMT – (CAD) BOC Gov Macklem Speaks
