Global Markets:
- Asian Stock Markets : Nikkei down 0.27%, Shanghai Composite up 0.35%, Hang Seng up 0.19% ASX up 0.11%
- Commodities : Gold at $3399.35 (-0.19%), Silver at $38.58 (0.49%), Brent Oil at $69.59 (0.19%), WTI Oil at $66.38 (0.23%)
- Rates : US 10-year yield at 4.423, UK 10-year yield at 4.6730, Germany 10-year yield at 2.691
News & Data:
- (CAD) IPPI m/m 1.40M to 1.39M expected
- (CAD) RMPI m/m 1.32M to 1.29M expected
Markets Update:
Asian stock markets traded mostly lower on Tuesday, following mixed cues from Wall Street and continued uncertainty over U.S. President Donald Trump’s reciprocal tariffs, with an August 1 deadline to finalize trade deals. Reports indicate EU leaders are preparing for a showdown, while U.S. Commerce Secretary Howard Lutnick emphasized the deadline as firm, though talks could continue afterward. Asian markets had closed mostly higher on Monday.
In Australia, the S&P/ASX 200 inched up 0.03% to 8,670.80, supported by strength in mining stocks. BHP, Fortescue, and Rio Tinto gained nearly 3% each. Gold miners also performed well, while tech names like Block and Zip slid over 2%. Big banks like Commonwealth Bank and NAB fell nearly 2%. Investors await the Reserve Bank of Australia’s minutes from its July meeting, where the rate was held at 3.85%.
Japan’s Nikkei 225 rose 0.19% to 39,892.81, recovering from earlier losses. Gains were seen in tech, financials, and exporters. SoftBank jumped over 3%, Mitsubishi Heavy Industries surged 5%, and major banks and chip-related stocks advanced. However, automakers and companies like Shiseido lagged behind.
Elsewhere in Asia, New Zealand dropped 1.1%, while markets in China, Hong Kong, Malaysia, Singapore, and South Korea saw mild losses. On Wall Street, the Nasdaq and S&P 500 closed at record highs despite a late pullback, while oil dipped to $69.17 on global trade concerns.
Upcoming Events:
- 02:45 PM GMT – GBP BOE Gov Bailey Speaks
- 06:00 PM GMT – USD Fed Chair Powell Speaks
- 07:30 PM GMT – USD Richmond Manufacturing Index
