Global Markets:
- Asian Stock Markets : Nikkei up 0.26%, Shanghai Composite down 0.71%, Hang Seng down 0.76%, ASX down 0.10%
- Commodities : Gold at $1956.85 (-0.32%), Silver at $23.13 (-0.99%), Brent Oil at $76.62 (-0.62%), WTI Oil at $72.38 (-0.40%)
- Rates : US 10-year yield at 3.762, UK 10-year yield at 4.372, Germany 10-year yield at 2.432
News & Data:
- (JPY) Unemployment Rate 2.60% vs 2.70% expected
- (GBP) BRC Shop Price Index y/y 9.00% vs 8.80% previous
- (NZD) Building Consents m/m -2.60% vs 6.60% previous
Markets Update:
Asian stock markets are trading mostly lower on Tuesday, following the lack of cues from global markets overnight due to holiday in most markets, as traders turned to booking profits following the recent rally is some markets. Traders also remain cautious ahead of the vote on the US debt ceiling deal on Wednesday.
The Australian stock market is slightly lower on Tuesday after alternating between the unchanged line, giving of some of the gains in the previous two sessions, with the benchmark S&P/ASX 200 staying above the 7,200 level, following the lack of major cues from global markets overnight, with gains in iron ore and gold mining stocks more than offset by weakness in energy and technology stocks. The Japanese stock market is notably lower on Tuesday, giving up some of the gains in the previous three sessions, with the Nikkei 225 falling below the 31,100 level off recent 33-year highs, as traders booked some profits after the recent rally which took the index to 33-year highs.
Crude oil prices eked out modest gains on Monday after U.S. President Joe Biden and House Speaker Kevin McCarthy, R-Calif., reached an agreement in principle to raise the debt ceiling and avoid a potentially disastrous default by the U.S. government.
Upcoming Events:
- 09:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 09:00 AM GMT – (EUR) Core CPI Flash Estimate y/y
- 11:20 AM GMT – (AUD) RBA Gov Lowe Speaks
- 02:00 PM GMT – (USD) JOLTS Job Openings
- 10:45 PM GMT – (NZD) Employment Change q/q
- 10:45 PM GMT – (NZD) Unemployment Rate
