Japanese Deputy Chief Cabinet Secretary Hideki Murai said on Tuesday, “Japan is gradually seeing a positive cycle of rising growth; wages fall into place.” Additional comments Important to embed new business practices in japan so costs are appropriately passed on throughout supply chain.
The Reserve Bank of India (RBI) is set to maintain a cautious stance on monetary policy.
Here is what you need to know on Tuesday, March 5: Major currency pairs continue to fluctuate in familiar ranges early Tuesday following Monday's indecisive action.
FX option expiries for Mar 5 NY cut at 10:00 Eastern Time, via DTCC, can be found below.
Japan's top currency diplomat Masato Kanda said on Tuesday, we “must brace for higher interest rates environment given assumed interest rates raised to 1.9% from 1.1%.” Additional quotes Must strive for responsible fiscal management by achieving primary budget balancing in FY2025/26.
The EUR/JPY cross loses ground below the mid-163.00s during the early European trading hours on Tuesday.
USD/CAD extends its winning streak for the second session on Tuesday amid a stable US Dollar (USD), which could be attributed to the risk aversion ahead of the key economic data from the United States (US).
Russia S&P Global Services PMI declined to 51.1 in February from previous 55.8
The GBP/USD pair snaps the two-day winning streak during the early European session on Tuesday.
India HSBC Composite PMI fell from previous 61.5 to 60.6 in February
Singapore Retail Sales (MoM) increased to -0.7% in January from previous -1.5%
Singapore Retail Sales (YoY) climbed from previous -0.4% to 1.3% in January
India HSBC Services PMI came in at 60.6 below forecasts (62) in February
NZD/USD trims some of its intraday losses as the NZX 50 Index recovers its daily losses on Monday.
The EUR/USD pair struggles to capitalize on its strong gains registered over the past two days and oscillates in a narrow trading band during the Asian session on Tuesday.
Gold price (XAU/USD rallied to a three-month peak on Monday and settled at an all-time high, above the $2,100 mark amid bets that the Federal Reserve (Fed) will start cutting interest rates in June.
West Texas Intermediate (WTI) oil prices continue to decline for the second consecutive session, with prices hovering near $78.20 per barrel on Tuesday.
Indian Rupee (INR) edges lower on Tuesday amid the modest rebound of the US Dollar (USD).
The Sensex 30 and Nifty 50, India’s key benchmark indices, are expected to open on the back foot, as risk-aversion extends into Asian markets.
The Australian Dollar (AUD) consolidates with a negative bias on Tuesday after experiencing losses in the previous session, possibly due to prevailing risk-off sentiment amid a stagnant ASX 200 Index.
The Japanese Yen (JPY) ticks higher during the Asian session and reverses a part of the previous day's losses after data released on Tuesday showed that consumer inflation in Tokyo – Japan's capital city – rebounded from 22-month lows in February.
China's Services Purchasing Managers' Index (PMI) unexpectedly fell to 52.5 in February, as against the January reading of 52.7, the latest data published by Caixin showed on Tuesday.
China Caixin Services PMI came in at 52.5 below forecasts (52.9) in February
The USD/CHF pair consolidates in a narrow trading range around the mid-0.8800s during the early Asian session on Tuesday.
China’s Premier Li Qiang delivered the opening remarks at the National People's Congress (NPC) annual meeting on Tuesday.
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1027 as compared to the previous day's fix of 7.1020 and 7.1961 Reuters estimates.
Ireland Purchasing Manager Index Services: 54.4 (February) vs 50.5
The USD/CAD pair holds below the 1.3600 barrier during the early Asian trading hours on Tuesday.
Australia Current Account Balance came in at 11.8B, above expectations (5.6B) in 4Q
Japan Jibun Bank Services PMI increased to 52.9 in February from previous 52.5
Japan's Economy Minister Yoshitaka Shindo said on Tuesday that the Japanese government is not thinking of declaring anything when he was asked about considering announcing the end of deflation.
New Zealand ANZ Commodity Price: 3.5% (February) vs 2.2%
The headline Tokyo Consumer Price Index (CPI) for February rose 2.6% YoY from 1.6% in the previous reading, the Statistics Bureau of Japan showed on Tuesday.
Japan Tokyo CPI ex Food, Energy (YoY) remains unchanged at 3.1% in February
Japan Tokyo Consumer Price Index (YoY) rose from previous 1.6% to 2.6% in February
Japan Tokyo CPI ex Fresh Food (YoY) meets forecasts (2.5%) in February
The NZD/USD pair remains capped under the 0.6100 mark during the early Asian session on Tuesday.
South Korea Gross Domestic Product Growth (YoY) unchanged at 2.2% in 4Q
South Korea Gross Domestic Product Growth (QoQ) remains unchanged at 0.6% in 4Q
GBP/USD climbed into the 1.2700 handle on Monday before falling back, paring away some of the day’s gains but hitting the rollover higher than it started.
Australia's Judo Bank Services Purchasing Managers Index rose to a ten-month high of 53.1 in February, climbing back above the 50.0 contractionary level and climbing over the previous print of 49.1.
The XAU/USD is currently trading multi-month highest around $2,115 as investors continue digesting last week’s weak inflation and economic activity figures from the US.
Australia Judo Bank Services PMI: 53.1 (February) vs 52.8
Australia Judo Bank Composite PMI rose from previous 51.8 to 52.1 in February