EQUITIES

Asia-Pacific markets lower on Monday, led by the Australia’s S&P/ASX 200 that shed -1.03%. Japanese shares fell from a 29-1/2-year high to retreat to -0.51% lower. The Hong Kong’s Hang Seng index slipped -0.11%, the Shanghai Composite down -0.20%, Singapore’s Straits Times index declined -0.19%, and the South Korea’s KOSPI lose -0.34%.

Overnight on Wall Street, the S&P 500 declined 0.4% to close at 3,694.92 while the Nasdaq Composite finished its trading day 0.1% lower at 12,742.52. The Dow Jones Industrial Average, on the other hand, gained 37.40 points to close at 30,216.45.

OIL

Oil prices slipped again on fast-spreading new coronavirus strain in the UK, that raised for tighter restrictions. The Brent crude futures traded to $50.67 a barrel, while U.S. crude at $47.79.

Both benchmark contracts slid more than 2% on Monday, as Brent closed at $50.91 per barrel, while WTI futures ended at $47.74 per barrel.

CURRENCIES

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.23, having been as high as 91.022 overnight.

The Australian dollar changed hands at $0.7561, after dropping below $0.75 yesterday, following the country’s retail sales release. New Zealand dollars a little soft with the nervous mood, but well above overnight lows at $0.7060.

GOLD

The safe-haven asset hitting a one-month high earlier in the session, currently trading at $1,882.50 per ounce, while added to around $1,8.87.40 per ounce for gold futures. Previously closed at $1,876.70 and $1,882.8, respectively.

Silver trading at $26.41, platinum trading at $996.00 and palladium trading at $2,211.00.

ECONOMIC OUTLOOK

Shares in Asia-Pacific declined Tuesday on rising concerns over COVID-19 cases globally, supplemented with the new strains of COVID-19 cases found in London, consequently dampened the vaccine-led economic rebound.

A more virulent strain of the coronavirus in Britain prompted tighter lockdowns and travel restrictions across Europe, while Brexit talks dragged.

US congressional leaders were poised to vote on a $900 billion relief package following months of negotiations.

Australia’s retail sales jumped 7% in November.

To date, number of confirmed worldwide cases for COVID-19 pandemic has surpassed 77.342 million affecting 213 countries and territories around the world and 2 international conveyances, recording more than 1.701 million fatality globally.

TECHNICAL OUTLOOK

[USDJPY]

Important Levels to Watch for Today:

- Resistance line of 103.897 and 104.153.

- Support line of 103.069 and 102.813.

Commentary/ Reason:

- The dollar added 0.15% on the yen, to stay at 103.423 on Tuesday.

- Approved U.S. stimulus package and slump in stocks today among the catalyst in moving dollar value.

- The yen also weakened after Japan's Finance Ministry on Monday said that it would issue a record 221.4 trillion yen ($2.1 trillion) of debt in the next fiscal year. The yen saw support as a slump in stocks fueled safe haven buying of the yen.