Global Markets:
- Asian Stock Markets : Nikkei up 0.51%, Shanghai Composite down -0.21%, Hang Seng down -0.03% ASX up 0.26%
- Commodities : Gold at $3,721.20 (0.04%), Silver at $43.090 (0.28%), Brent Oil at $67.53 (0.15%), WTI Oil at $67.54 (0.15%)
- Rates : US 10-year yield at 4.033, UK 10-year yield at 4.6310, Germany 10-year yield at 2.6959
News & Data:
- (CAD) Manufacturing Sales m/m 2.5% to 1.7% expected
- (CAD) Wholesale Sales m/m 1.2% to 1.4% expected
Markets Update:
Asian stock markets traded mixed on Tuesday, tracking broadly positive cues from Wall Street as investors stayed cautious ahead of the U.S. Federal Reserve’s policy decision on Wednesday. With inflation subdued and labor market data weakening, traders widely expect the Fed to cut rates by a quarter-point. CME Group’s FedWatch Tool shows a 96.4 percent probability of such a move, with slim chances of a deeper cut. Markets will closely watch Chair Jerome Powell’s remarks for guidance on further easing.
In Australia, the S&P/ASX 200 advanced 21.40 points or 0.24 percent to 8,874.40, lifted by miners and technology shares, while the All Ordinaries rose 0.29 percent. BHP, Rio Tinto, and Fortescue gained strongly, while tech stocks such as Block and Appen also advanced. Gold miners posted solid gains, while bank stocks were mixed. The Australian dollar traded at $0.667.
Japan’s Nikkei 225 rose 136.01 points or 0.30 percent to 44,904.13 after briefly hitting a record high. Tech names like Screen Holdings and Tokyo Electron outperformed, while banks weakened. Exporters were mixed, with Sony slipping but Mitsubishi Electric edging up. Elsewhere, South Korea climbed 1.1 percent, Taiwan added 0.9 percent, while Singapore and China dipped slightly.
On Wall Street, the Nasdaq and S&P 500 closed at record highs Monday, while oil prices advanced amid Middle East tensions and the ongoing Russia-Ukraine war.
Upcoming Events:
- 12:30 PM GMT – CAD CPI m/m
- 12:30 PM GMT – CAD Median CPI y/y
- 12:30 PM GMT – CAD Trimmed CPI y/y
- 12:30 PM GMT – USD Core Retail Sales m/m
- 12:30 PM GMT – USD Retail Sales m/m
