Global Markets:
- Asian Stock Markets : Nikkei down -1.24%, Shanghai Composite down -1.22%, Hang Seng down -1.98% ASX down -0.46%
- Commodities : Gold at $4,311.20 (-0.56%), Silver at $62.360 (-1.98%), Brent Oil at $60.21 (-0.59%), WTI Oil at $59.35 (-0.58%)
- Rates : US 10-year yield at 4.170, UK 10-year yield at 4.5020, Germany 10-year yield at 2.8508
News & Data:
- (CAD) CPI m/m 0.1% to 0.1% expected
- (CAD) Median CPI y/y 2.8% to 2.9% expected
- (CAD) Trimmed CPI y/y 2.8% to 2.9% expected
Markets Update:
Asian stock markets are trading mostly lower on Tuesday, tracking broadly negative cues from Wall Street overnight, as continued weakness in energy and technology stocks weighs on sentiment. Uncertainty surrounding future AI spending and fears of a potential tech bubble have made investors cautious, while traders are also reluctant to take large positions ahead of key U.S. economic data releases later this week, including retail sales and inflation figures. Asian markets had ended mostly lower on Monday.
The upcoming data could influence expectations for interest rates following the U.S. Federal Reserve’s policy decision last week. Although the Fed delivered a widely expected quarter-point rate cut, its projections revealed sharp divisions among policymakers over the pace and extent of further easing.
In Australia, the stock market is trading modestly lower after an early uptick, extending the previous session’s losses amid weakness in energy and technology shares. The benchmark S&P/ASX 200 is hovering below the 8,650 level, with mixed performances across other sectors. Mining stocks are mixed, oil stocks are broadly weaker, while gold miners are mostly higher. Banking shares are narrowly mixed, and tech stocks remain under pressure.
In Japan, stocks are sharply lower, with the Nikkei 225 slipping below the 49,800 level as losses in heavyweight, exporter, and banking stocks drag the market down. Elsewhere in Asia, most major markets are also lower.
On Wall Street, U.S. stocks finished modestly lower on Monday after early gains faded, while European markets traded mostly higher. Crude oil prices declined on oversupply concerns.
Upcoming Events:
- 01:30 PM GMT – USD Core Retail Sales m/m
- 01:30 PM GMT – USD Non-Farm Employment Change
- 01:30 PM GMT – USD Retail Sales m/m
- 01:30 PM GMT – USD Unemployment Rate
