Market Roundup
- Japan’s CSPI (Corporate Services Price Index) remains unchanged at 2.1 pct.
- Japan’s core CPI y/y stands at 0.3 pct vs 0.2 pct previous release (expected 0.2).
- Australia’s NAB business confidence stands at -2 vs 0 previous released.
- Hong Kong, Taiwan and China markets will remain close.
Economic Data Ahead
- (0200 ET/0700 GMT) Swiss trade balance.
- (0300 ET/0800 GMT) Spain unemployment rate.
- (0600 ET/1100 GMT) UK CBI distributive trades survey.
Key Events Ahead
- (0930 ET/1430 GMT) FOMC member William’s speech.
FX Recap
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.01% to 97.75.
EUR/USD: The euro falls gradually against U.S. dollar and currently trading $1.1020 mark on Tuesday. A sustained close above $1.1018 will drag the parity higher towards key resistances around $1.1062, $1.1142, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively. On the other hand, a consistent close below $1.1018 will drag the parity down towards key supports around $1.0970, $1.0919 and $1.0852 levels respectively.
USD/JPY: The Japanese yen trades marginally lower on Tuesday as CSPI data remains unchanged. The pair is currently trading around 109.03 mark. A sustained close above 108.89 is required to take the parity higher towards key resistances around 109.65, 110.20, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 108.89 will drag the parity down towards key support around 108.72, 108.40, 106.90 and 104.20 marks respectively.
GBP/USD: The Pound trades flat against U.S. dollar and stabilizes below $1.3050 mark. The pair is currently stabilizes below $1.3047 mark. A sustained close below $1.2935 requires for dragging the parity down towards key support around $1.2820, $1.2644 and $1.2352 mark respectively. On the other side, key resistances are seen at $1.3157, $1.3335, $1.3422 and $1.3515 levels respectively.
AUD/USD: The Aussie trades remarkably down against U.S. dollar and currently trading around $0.6760 mark. Pair made intraday high at $0.6765 and low at $0.6747 mark. A consistent close below $0.6760 requires for downside rally towards $0.6708 and $0.6670 mark respectively. On the other side, a sustained close above $0.6760 will take the parity higher towards $0.6818, $0.6903, $0.6942, $0.7076 and $0.7122 levels respectively.
NZD/USD: The Kiwi falls in early Asia and stabilizes below $0.6550 mark. The pair is currently trading around $0.6548 mark. A sustained close above $0.6543 requires for the upside rally. Alternatively, a consistent close below $0.6543 will take the parity down towards key supports around $0.6502, $0.6424, $0.6323, $0.6236 and $0.6196 levels respectively.
Equities Recap
Japan’s Nikkei was trading 0.70 pct lower at 23,186.50 points.
Australia’s S&P/ASX 200 was trading 1.35 pct lower at 6,994.50 points.
India’s NSE was trading 0.05 pct lower at 12,112.85 points and BSE sensex 0.02 pct higher at 41,168.43 points.
South Korea’s kospi was trading 3.18 pct lower at 2,174.06 points.
Hong Kong, Taiwan and China markets will remain close.
Commodities Recap
Gold trades flat on Tuesday and hovers around $1,580 mark. A sustained close above $1,581 requires for the upside rally. On the other side, a consistent close below $1,571 will drag the parity down towards key supports around $1,547, $1,530, $1,511, $1,490, $1,472 and $1,458 mark respectively. On the top side, key resistances are seen at $1,588, $1,597 and $1,611 mark respectively.
Oil prices continue to trade lower on Tuesday. Brent crude futures were down by 13 cents to $58.45. The West Texas Intermediate contract was down by 0.02 cents to $53.12 a barrel.
Treasuries Recap
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, trades lower to 0.952 points, the yield on the long-term 15-year bond trades down to 1.044 points and the yield on short-term 2-year fell nearly 0.013 pct to 0.662 points.
The yield on the benchmark 10 - year JGB note, which moves inversely to its price, trades slightly down to -0.039 points, the yield on the long-term 30 - year rose 0.004 pct to 0.374 points and the yield on short-term 2 - year fell to -0.128 points.
