EQUITIES

Asian shares mostly positive today, except for Nikkei 225 and KOSPI index that retreated -0.34% and -0.26%. Meanwhile, mainland Chinese stocks, China's Shanghai Composite gained at 0.42%, and Hong Kong's Hang Seng up 0.19%. Australia S&P/ASX 200 and Singapore’s all advanced each by 0.71%, and 0.28% respectively.

Overnight stateside, the S&P 500 rose 0.3%, the Nasdaq Composite gained 1%, hitting an all-time high. While the Dow Jones Industrial Average lagged, falling 85 points.

OIL

Oil prices retreated the morning of Asian trading hours. Brent crude futures traded to $45.18 a barrel, while U.S. crude at $42.64.

On Monday, Brent closed at $45.37 per barrel, while WTI futures ended at $42.89 per barrel.

CURRENCIES

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 92.67 after earlier touching levels around 92.8.

The Japanese yen traded at 105.62 per dollar after strengthening from levels above 106.4 against the greenback yesterday. The Aussie was steady at $0.7215 and close to an 18-month top of $0.7242 hit on August 7.

GOLD

Gold currently trading at $1,993.10 per ounce, while stands around $2,003.30 per ounce for gold futures. Previously closed at $1,983.60 and $1,998.70, respectively. Gold closed higher after Berkshire Hathaway also disclosed a stake in Toronto-based Barrick Gold Corp, one of the world’s largest mining companies.

Silver trading at $27.77, platinum trading at $952.00 and palladium trading at $2,074.00.

ECONOMIC OUTLOOK

Stocks in Asia Pacific were little changed in Tuesday morning trade as investors continued to watch developments in U.S.-China tensions.

Tensions between Washington and Beijing continue to weigh on investor sentiment. U.S. President Donald Trump’s administration announced a further tightening of restrictions on Huawei, aimed at limiting the Chinese telecommunications giant’s access to commercially available chips.

The Reserve Bank of Australia said there was “no need to adjust the package of measures in Australia in the current environment,” according to meeting minutes released Tuesday.

Malaysia July 2020 CPI down 1.3% on-year.

New York Fed’s Empire State business conditions index tumbled to 3.7 in August from 17.2 in July.

U.S. and Colombia will work together to bring new investment to rural areas of the South American country, as Colombia’s president reiterated support for the U.S. candidate to lead the Inter-American Development Bank.

To date, number of confirmed worldwide cases for COVID-19 pandemic has surpassed 22.049 million affecting 213 countries and territories around the world and 2 international conveyances, recording more than 777 thousand fatality globally.

TECHNICAL OUTLOOK

[USDJPY]

Important Levels to Watch for Today:

- Resistance line of 106.931 and 107.675.

- Support line of 105.443 and 104.699.

Commentary/ Reason:

- The dollar is headed for its biggest weekly drop. Now at 105.65.

- Both Stochastic and RSI oscillators try to pull back undervalued ranges.

- The MACD is trading below its signal line and negative. The configuration is negative.