Futures Australia and Hong Kong pointed higher, while Japan lowered. Asian stocks are set to open mixed on Wednesday after US equities traded near-record high ahead of key inflation data. Overnight, the S&P 500 was flat, with the Nasdaq gained 0.3%. The Dow Jones lowered by just 0.1%. The focus remains on the consumer prices report on Thursday, which may have an impact on Federal Reserve’s perceptions on tapering asset purchases.
The US 10-year yields fell to a one-month low, fell by 4 points to 1.53%. US 2-year yields were steady near 0.155%.
Forex trading saw the dollar advanced for the first time in three days. According to ZERO Markets’ Meta Trader 5 platform, the Euro fell from highs near 1.2200 to lows near $1.2165 against the dollar. The Aussie dollar fell from highs near $0.7663 to lows around $0.7733 against the dollar.
Commodity trading saw global oil prices resumed rally to $70 a barrel in New York as investor confidence in oil demand grows. Brent crude rose by 1% to near $US 72.22 a barrel. WTI lifted by 1.2% to $70.05 a barrel.
Iron ore prices lost 3.7% to near $210 a tonne. Precious metals trading saw gold fell by 0.2% to near $US 1,894 an ounce.
Cryptocurrency trading saw Bitcoin remained under pressure after a retreat this week and is near $33,500 on near Asia openings.
Key events this week (Economic Calendar):
European Central Bank Decision (Thursday)
US Consumer Price Index (Thursday)
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