- Stock indices in the Asia-Pacific region traded slightly higher during Tuesday's session. Korea's KOSPI gained nearly 0.5% intraday, while Japan's Nikkei rallied 0.1%. The Hang Seng is doing relatively well today, trading up 1.43% intraday.
- European futures point to a higher opening in today's European cash session.
- Relative to other currencies, the US dollar and the euro are currently performing poorly. Slightly better sentiment is seen on Antipodean currencies and the Japanese yen, among others. The EURUSD pair is currently trading slightly below the 1.077 barrier.
- The PBOC pegs the USD/CNY central rate at 7.1174 (versus estimates of 7.1772).
- China lifts restrictions on Australian meat imports for 3 suppliers.
- Chinese Communist Party leaders will discuss growth targets and stimulus proposals for the economy today.
- New Zealand retail sales index +1.6% m/m (previously -0.7%).
- Today's energy commodity price momentum is slightly higher. On an intraday basis during European morning trading, Brent crude oil gains 0.6%, and WTI crude gains 0.66%. Natural gas is doing worse, losing 0.75%.
- Bitcoin is gaining slightly on an intraday basis, adding nearly 0.5% after recent declines. The leader of the increases is currently Vechain, which is gaining more than 8%.
- Precious metals are trading higher, with gold gaining 0.32% and silver gaining 0.72%.
- On Tuesday's macro calendar, we can find, among others: data from the British labor market, ZEW Institute data from Germany, CPI inflation report from the US, and API survey data on oil inventories.
The EURUSD pair is holding at the key zone of 1.077 confirmed by the confluence of the 50-, 100- and 200-day exponential moving averages. Today's reaction to the CPI data may decide the further direction for the pair. Source: xStation
