EQUITIES

Asian share markets opened trading day on higher, except for Japan's Nikkei 225 that retreated -0.30%. Hong Kong's Hang Seng up 1.13% and China's Shanghai Composite gained 0.62% and Singapore’s gained 0.41%. Meanwhile, shares in Australia traded higher, as the S&P/ASX 200 increased 0.20%, while South Korea’s KOSPI unchanged in early trading.

Overnight on Wall Street, Dow Jones dropped 1.09%, and snapped its six-session winning streak to close at 27,272.30. The S&P 500 slipped 0.78%, while other main exchanges across Europe were also recording loss.

OIL

Currently, oil prices slipped in the morning of Asian trading hours. Brent is trading at $40.82, while WTI is trading at $38.55 as of writing time.

Brent crude futures ended the session higher on Tuesday at $41.18 per barrel, while WTI crude futures at $38.94 per barrel.

CURRENCIES

The U.S. DXY stand at 96.34 after slipping from levels around 97 earlier, an index compared with a basket of its major peers.

The Japanese yen traded at 107.74 per dollar following its strengthening from levels above 107.8 yesterday. The Australian dollar changed hands at $0.6953 after touching an earlier low of $0.693.

GOLD

Gold currently trading at $1,716.40 per ounce, while stands around $1,723.40 per ounce for gold futures as of writing time. Previously closed at $1,714.60 and $1,721.90, respectively.

Silver trading at $17.64, platinum trading at $824.00 and palladium trading at $1,891.00.

ECONOMIC OUTLOOK

Stocks in Asia Pacific mostly edged higher in Wednesday morning trade, as Chinese inflation data for May missed expectations.

China’s producer price index for May fell 3.7% from a year earlier, according to China’s National Bureau of Statistics. Meanwhile, its consumer price index rose 2.4% year-on-year in May.

Investors will also await the release of the U.S. Federal Reserve’s economic forecast, expected on Wednesday stateside.

The IMF approved on Tuesday a $5 billion loan deal for Ukraine.

To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 7.318 million today affecting 213 countries and territories around the world and 2 international conveyances, recording more than 413 thousand fatality globally.

TECHNICAL OUTLOOK

[USDJPY]

Important Levels to Watch for Today:

-        Resistance line of 108.610 and 109.868.

-        Support line of 106.796 and 105.995.

Commentary/ Reason:

-        Stochastic oscillator is heading into oversold range.

-        The MACD is trading above its signal line and positive. The configuration is positive.