In Asian Equity Markets indices were lower in Tuesday morning trade as investors watched developments such as the renewed conflict in key oil producer Libya. Mainland Chinese shares were mixed in early trade, with the Shanghai composite slipping 0.42%. Hong Kong’s Hang Seng index declined 0.16%. In Japan, the Nikkei 225 shed its earlier gains as it fell 0.24%, shares of index heavyweight Softbank Group falling about 0.5%. South Korea’s Kospi fell 0.31% as shares of industry heavyweight Samsung Electronics declined more than 0.3%.
In Currency Markets the US dollar sagged on Tuesday after weak U.S. economic data while commodity-linked currencies such as the Canadian and Australian dollars drew support from an ongoing rise in crude oil prices. The dollar index against a basket of six major currencies stood little changed at 97.083 after losing 0.35 percent the previous day, marking its biggest daily decline since March 20. The Canadian dollar was little changed at C$1.3314 per dollar after gaining more than 0.5 percent overnight.
In Commodities Markets oil prices eased on Tuesday, fell away from 5-month highs reached earlier in the session as a sluggish economic outlook countered an otherwise tight market. International benchmark Brent futures touched their strongest level since last November at $71.34 per barrel on Tuesday, before losing ground to $70.96 per barrel by 0158 GMT, down 14 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures also hit a November 2018 high, at $64.77 per barrel, before easing to $64.36, 4 cents below their last settlement.
In US Equity Markets the S&P 500 and the Nasdaq edged into positive territory on Monday, with gains held in check by falling industrials as investors braced for what analysts now expect to be the first quarter of contracting earnings since 2016. The S&P 500 gained 0.10%, to 2,895.77 and the Nasdaq Composite added 0.19%, to 7,953.88. Of the 11 major sectors in the S&P 500, six closed in the black, led by energy which got a boost from rising crude prices. Utilities and industrials were the biggest percentage losers.
In Bond Markets U.S. Treasury debt prices drifted lower in generally quiet trading on Monday, pressured by upcoming government debt and corporate supply. Investors this week are bracing for oil company Saudi Aramco’s inaugural bond deal as well as the U.S. Treasury’s $78 billion auction of notes and bonds. The Saudi deal is expected to be priced on Tuesday. U.S. 10-year note yields rose to 2.518% , up from 2.499% late on Friday. U.S. 30-year bond yields, were also up at 2.925%, from 2.909% on Friday.