Japan +0.07%. Japan data: July Household spending -1.4% m/m.
Japan urges oil producing countries to expand output.
Hong Kong -0.44%.
Australia -0.03% Australian data: Net exports to contribute 1% to Q2 GDP (0.9% expected).
Australia weekly consumer confidence +1.3% w/w.
RBA raises cash rate by 50 bps to 2.35%, as expected. That’s the fifth increase in a row since the central bank started raising rates in May.
U.S. markets were closed overnight for a holiday.
New Zealand’s inflation has peaked at 7.3%, reached in the second quarter of the year, due in part to oil prices falling from recent highs, ANZ Research said in a note.
Coming up in the week: Australia Q2 GDP is due Wednesday, 7 September 2022 – preview.
Oil prices slipped early on Tuesday, paring the previous session’s 3% gain, as an OPEC+ deal to cut output by 100,000 barrels per day in October was seen as a largely symbolic move to stem the market’s recent slide.
Brent crude futures fell 33 cents, or 0.3%, to $95.44 a barrel at 0054 GMT.
U.S. West Texas Intermediate crude futures inched up from Monday to $89.13 a barrel.
Gold prices rose on Tuesday, buoyed by a pullback in the dollar and safe-haven buying due to economic slowdown concerns, though prospects of aggressive rate hikes capped further gains.
Spot gold rose 0.5% to $1,718.21 per ounce, as of 0120 GMT.
U.S. gold futures gained 0.5% to $1,731.30.
U.S. futures mixed. Dow Jones -0.08%; S&P 500 +0.01%; Nasdaq +0.16%.
Image and article originally from seekingalpha.com. Read the original article here.