Japan +0.08%. Japan Industrial Production, preliminary for January -4.6% m/m (expected -2.9%).
Japan data – January retail sales +1.9% m/m (expected +0.4%) & +6.3% y/y (expected +4.0%).
Bank of Japan’s deputy governor Masazumi Wakatabe reiterated his support for the central bank’s inflation target of 2%, according to a transcript of his speech delivered at Columbia University.
China +0.66%.
Hong Kong -0.40%.
Australia +0.47%. Australian data – January Retail Sales 1.9% m/m (expected +1.5%).
Australia weekly consumer confidence 80.0 (down from 80.4 the previous week).
More Australian data: Q4 net exports are 1.1% of GDP (vs. expected +1.3%).
Australian data – January Private Sector Credit +0.4% m/m (expected +0.4%).
India -0.16%.
Overnight in the U.S., stocks rose on Monday night as traders tried to recover some ground following the worst week of the year on Wall Street. All three major US indexes closed higher, with the Nasdaq Composite leading gains. The Nasdaq Composite closed +0.6%, the S&P 500 finished +0.3% and the Dow ended +0.2%.
New Zealand business confidence February -43.3% (prior -52%).
India will release its gross domestic product for the fourth quarter of 2022 later today, forecasted to show a 4.6% rise.
Oil prices steadied in early Asian trade on Tuesday after falling on strong U.S. manufacturing data that raised worries about further interest rate hikes dampening demand, while analysts predicted another build in American crude inventories.
Brent crude futures for April, due to expire on Tuesday, lost 20 cents to $82.25 per barrel by 0137 GMT, extending a 0.9% loss in the previous session. The more active May contract picked up 4 cents to $82.08 per barrel.
U.S. West Texas Intermediate (WTI) crude futures gained 11 cents to $75.79 a barrel.
Gold prices eased on Tuesday and were headed for their biggest monthly loss since June 2021 as impending interest rate hikes by the U.S. Federal Reserve sapped the non-yielding asset’s appeal.
Spot gold was down 0.1% at $1,816.19 per ounce as of 0317 GMT, after hitting a two-month low on Monday. U.S. gold futures fell 0.1% to $1,823.30.
Spot silver rose 0.1% to $20.63 per ounce on the day and was set for its biggest monthly decline since September 2020.
Platinum edged up 0.1% to $939.53 and palladium fell 0.4% to $1,425.05. Both metals were set to post a drop in prices for the month.
US futures lower. Dow Jones -0.09%; S&P 500 -0.09%; Nasdaq -0.07%.
