Trading news

Australia National Australia Bank's Business Conditions unchanged at 7 in February

Australia National Australia Bank's Business Confidence declined to -1 in February from previous 3

The General Administration of Customs will publish its data for February on Tuesday at 03.00 GMT. Trade balance is expected to widen to $179.60B in February, compared to $114.10B in the previous reading.

Japan’s Finance Minister Satsuki Katayama said that energy ministers from the Group of Seven (G7) nations will hold a virtual meeting on Tuesday to discuss a possible release of oil reserves to address the supply disruption triggered by the Iran war, CNBC reported on Tuesday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $86.40 during the early Asian trading hours on Tuesday. The WTI price faces extreme volatility following a massive spike to nearly $120 per barrel in the previous session. 

Japan Gross Domestic Product Deflator (YoY) meets forecasts (3.4%) in 4Q

Japan Money Supply M2+CD (YoY) increased to 1.7% in February from previous 1.6%

Japan Gross Domestic Product (QoQ) in line with expectations (0.3%) in 4Q

Japan Gross Domestic Product Annualized registered at 1.3% above expectations (1.2%) in 4Q

MUFG’s Senior Currency Analys Michael Wan argues that the Philippines Peso is vulnerable as the Iran and Middle East conflict threatens to keep the Strait of Hormuz closed and Oil above US$100/bbl.

GBP/USD rose about 0.3% on Monday, falling just short of reclaiming 1.3450 after rebounding from a dip to around 1.3280 in the early session.

Australia Westpac Consumer Confidence climbed from previous -2.6% to 1.2% in March

Japan Overall Household Spending (YoY) registered at -1%, below expectations (2.5%) in January

Gold price (XAU/USD) trades with mild gains near $5,140 during the early Asian session on Tuesday. Persistent geopolitical risks in the Middle East provide some support to the precious metal despite recent selling pressure. 

South Korea Gross Domestic Product Growth (QoQ) registered at -0.2% above expectations (-0.3%) in 4Q

South Korea Gross Domestic Product Growth (YoY) below forecasts (1.7%) in 4Q: Actual (1.6%)

Danske Research Team expects China to maintain its two-speed pattern, with weak domestic demand and strong exports and technology. They project Gross Domestic Product growth of 5% in 2025, easing to 4.8% in 2026 and 4.7% in 2027.

NZD/USD rose about 0.6% on Monday, closing near 0.5950 after knocking on 0.5850 in the early session.

AUD/USD jumped about 0.8% on Monday, closing just shy of 0.7100 in a session that erased a large portion of last week's pullback.

Commerzbank’s Volkmar Baur sees growing evidence that China is exiting deflation, with consumer prices up 1.3% year-on-year in February and producer prices turning higher month-on-month. Rising services and food prices underpin this shift.