- Stock indices in the Asia-Pacific region traded lower during Tuesday's session. Korea's KOSPI lost nearly 0.82% intraday, and Japan's Nikkei was down 1.33%. The Hang Seng is currently performing poorly, trading down 1.69% intraday.
- The Reserve Bank of Australia leaves the cash rate unchanged at 4.35%, as expected.
- The AUD/USD pair is seeing declines after the RBA decision and less hawkish rhetoric from bankers.
- Macro data from China - Caixin Services PMI for November 51.5 (expected 50.8).
- Macro data from Japan - Final November services PMI 50.8 (previously 51.6). Core CPI data from Tokyo came in at 2.3% YoY, below the expected 2.4% YoY and the previous reading of 2.7% YoY.
- Moody's affirms China's a1 rating, changes outlook to negative from stable.
- Relative to other currencies, the Australian dollar and the New Zealand dollar are currently performing poorly. Slightly better sentiment is seen on the Japanese yen and the euro, among others. The EURUSD pair is currently trading slightly below the 1.085 barrier.
- The ECB's Schnabel commented that the current process of fighting inflation is going well, and the decline in base prices is sizable. The banker added that further interest rate hikes are "rather unlikely" after the November inflation reading.
- Today's energy commodity price momentum is somewhat subdued. On an intraday basis during European morning trading, Brent crude oil is losing 0.15%, and WTI oil is losing 0.10%. Natural gas is doing better, gaining 0.37%.
- Bitcoin loses close to 0.11% intraday, but remains close to the $42,000 barrier. Other cryptocurrencies (altcoins) are seeing slightly larger increases. Metaverse-related projects such as Decentraland (+6.3%) and Sandbox (+7.9%) are doing particularly well.
- Precious metals are trading near yesterday's closing levels, with gold gaining 0.14% and silver gaining 0.04%.
- On Tuesday's macro calendar we can find, among others: services PMI data for major European economies and the US, ISM PMI data for services from the US, the JOLTS report from the US, and API survey data on crude oil inventories.
The AUDUSD pair is losing nearly 0.58% during today's session and is trading near the support zones set by the daily low of the last session of November. Source: xStation
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