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Asia-Pacific indices record an upward session. Indexes from China are gaining between 0.75-1.30%. Japan’s Nikkei 225 index gains 1.40% testing the 40,000-point level, while Australia’s S&P/ASX200 is trading flat. Singapore SG20cash index futures gain 0.75%.

Tuesday News
  • Asia-Pacific indices record an upward session. Indexes from China are gaining between 0.75-1.30%. Japan’s Nikkei 225 index gains 1.40% testing the 40,000-point level, while Australia’s S&P/ASX200 is trading flat. Singapore SG20cash index futures gain 0.75%.
  • European index futures point to a lower opening of the session on the Old Continent. The UK100 loses 0.15% and the DAX loses as much as 0.30%.
  • In the forex market, the USD is gaining relatively strongly in the first part of the day and the EUR and GBP again. The USDIDX dollar index is already gaining 0.15% to 105,600 points.
  • The minutes of the Reserve Bank of Australia (RBA) meeting of 17-18 June were published today. The report showed that the Bank was considering raising the cash rate amid concerns that policy was not restrictive enough. Currently, inflation in Australia continues to hover around 4.0%.
  • The RBA decided to leave rates unchanged at 4.35% partly because of the risk of a sharp slowdown in the labor market. Ultimately, the case for stability was considered stronger by the Council, with inflation set to return to target in 2026. However, no future changes to monetary policy were ruled out.
  • The Democratic National Committee is considering formally nominating Joe Biden as early as 21 July to ensure the president is on the November ballot, while helping to eliminate intra-party talk of replacing him after a poor debate performance last week.
  • European Central Bank (ECB) President Christine Lagarde on Monday stressed the ECB’s cautious approach to further interest rate cuts. The current Eurozone labor market is strong, meaning the ECB could take more time to gather new data and temporarily hold off on further cuts.
  • South Korea’s CPI inflation fell in June to its lowest level in 11 months. The consumer price index (CPI) rose 2.4% in June from a year earlier, slower than May’s 2.7% and the weakest since July 2023.
  • On Monday, the dollar was supported by rising US bond yields. This increased upward pressure on the USDJPY currency pair, which gained 0.15% today, deepening record levels to 161.6500.
  • Benchmark 10-year Treasury bond yields rose almost 14 basis points overnight to 4.479%, with analysts attributing the move to expectations that Donald Trump will win the US presidency and raise tariffs and government borrowing.
  • Cryptocurrencies are trading slightly higher. Sentiment in this market has been improving slightly in recent days following the stabilization of spot ETFs on Bitcoin and investor expectations of a final decision on spot ETFs on Ethereum. Interestingly, the altcoin sector is doing relatively well, with the most gains today.

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