Asia-pacific equities markets declined on Tuesday following a narrowly mixed close on Wall Street overnight. Declines in energy and mining stocks led Asian shares lower from decade highs after oil and metal prices extended a drop. Chinese stocks stumbled for a second straight day and Investor confidence in China has been dented by rising bond yields as Beijing steps up its crackdown on shadow banking and other risky forms of financing.
EURUSD was mostly unchanged trading flat around 1.1905. The dollar got a brief boost overnight when U.S President Donald Trump tweeted that the tax cut bill was “coming along very well”. The dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 92.87. The yield on 10-year Treasuries held at 2.33 percent.
AUDUSD had a rather quiet session on Tuesday trading within a 10 pip range, currently the Aussie is valued at .7610 against the US Dollar down from session lows of 0.7600. Australia’s 10-year bond yield fell three basis points to 2.50 percent. Meanwhile, The New Zealand dollar gained close to 0.30 percent against the US Dollar, currently the Kiwi is trading around 0.6935 up from session lows of around 0.6900.
USDJPY was seen trading higher around 111.20 as the Yen lost 0.1 percent against the US Dollar following a 0.4 percent climb on Monday. Nikkei Stock average Nikkei 225 had a slow start due to overnight yen gains and is net unchanged at 22,477. Major exporters, including automakers and tech names, were mixed…
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