In Asian Equity Markets indices were lower on Tuesday morning amid concerns about the global outlook, after the International Monetary Fund (IMF) cut its world economic forecast on Monday. The Shanghai composite declined nearly 0.4 percent, the Shenzhen component fell nearly 0.7 percent and the Shenzhen composite shed 0.48 percent. Hong Kong’s Hang Seng index fell 0.5 percent. In Japan, the Nikkei 225 and Topix index fell marginally by 0.07 percent and 0.2 percent.

In Currency Markets the U.S. dollar hovered near 2-week highs against its peers on Tuesday as a slowdown in China’s economy to 28-year lows fanned fresh worries over global growth and prompted investors to move into safe-haven currencies. Overnight, the International Monetary Fund (IMF) cut its 2019 and 2020 global growth forecasts, citing a bigger-than-expected slowdown in China and the Eurozone. Sterling was marginally lower at $1.2886. The euro was flat at $1.1367. The Australian dollar fell by 0.13 percent to $0.7148.

In Commodities Markets oil prices edged lower on Tuesday as concerns over global economic growth stoked fears over future demand. International Brent crude oil futures were down 10 cents, or 0.2 percent, at $62.64. They closed down 0.1 percent on Monday. U.S. West Texas Intermediate (WTI) crude futures were at $53.70 per barrel, down 0.1 percent, or 4 cents. Also clouding the outlook was data showing a slowdown in growth in China, the world’s second biggest economy.

In US Equity Markets there was no trading activity on Monday due to Martin Luther King Jr. Day.

In Bond Markets Canadian government bond prices were higher across a flatter yield curve, with the two-year up 1.5 Canadian cents to yield 1.938 percent and the 10-year rising 16 Canadian cents to yield 2.018 percent. On Friday, the 10-year yield touched its highest intra-day in one month at 2.049 percent. Canadian manufacturing and wholesale trade data for November are due today. The November retail sales report is due on Wednesday.