Japan +0.64%. Japan data – December (final) Industrial Production 0.3% m/m (prior 0.2%).
Japan Q4 2022 GDP (preliminary) 0.2% q/q, missing estimate of 0.5%.
China +0.20%.
Hong Kong -0.21%.
Australia +0.18%. Australia NAB Business Confidence for January 6 (prior -1).
Australia monthly consumer confidence (February) -6.9% (vs. prior 5%). Australia weekly consumer confidence fell 5.5 points w/w to its lowest since April 2020.
India +0.81%.
Asian shares tracked the bounce on Wall Street on Tuesday, as investors remained sanguine that key U.S. economic data due later would show an easing in inflation, while the yen recouped losses ahead of the nomination of a new central bank governor. Japan’s currency had weakened on uncertainty surrounding Kazuo Ueda’s probable appointment as the next governor of the Bank of Japan, a surprise choice that could improve the odds of an end to its unpopular yield control policy.
Overnight on Wall Street, major stock indexes are off to a solid start this week with each moving higher by 1.1% or more. A snapshot of the market is showing: Dow industrial Average rose 376.66 points or 1.11% at 34245.94; S&P rose 46.85 points or 1.15% at 4137.30, and NASDAQ rose 173.68 points or 1.48% at 11891.80.
RBNZ New Zealand inflation expectations 2yr 3.3% (prior 3.6%).
New Zealand data – January Food Price Index +1.7% m/m (prior +1.1%).
Oil prices fell on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve (SPR) as mandated by lawmakers, defying expectations from some traders that the release could be canceled or delayed.
Brent crude futures fell by 70 cents, or 0.81%, to $85.91 per barrel by 0256 GMT, while U.S. crude futures fell by 93 cents, or 1.16%, to $79.21 per barrel.
Gold prices rose on Tuesday as the dollar retreated, with investors bracing for U.S. inflation data that could determine the Federal Reserve’s next moves in its monetary policy plans.
Spot gold was up 0.2% at $1,857.22 per ounce, as of 0305 GMT, after falling to its lowest since early January in the previous session. U.S. gold futures rose 0.3% to $1,868.40.
Spot silver was little changed at $21.96 per ounce, platinum eased 0.1% to $952.42, while palladium rose 0.3% to $1,570.94.
US futures lower. Dow Jones -0.09%; S&P 500 -0.03%; Nasdaq -0.08%.
