Canadians voted for a sharp change in their government Monday, returning a legendary name for liberals, Trudeau, to the prime minister’s office and resoundingly ending Conservative Stephen Harper’s near-decade in office.
Today’s RBA minutes showed that chances of a further policy easing have slightly diminished. It seems that the RBA will stay on hold for a while and that may lead to a stabilization of the Australian currency.
With no major data due today the market will focus on the upcoming housing data from the United States
Some central bankers including Yellen, Dudley and Carney are set to speak later today
Session in Asia
Asian equity markets traded mixed on Tuesday, with energy shares taking a hit as stubborn signs of weakness in the Chinese economy rekindled declines in oil prices.
China’s Shanghai Composite index reversed course to edge up in the afternoon trading session. Small-caps outperformed on Tuesday, with the Shenzhen Composite up 1.5 percent and the start-up ChiNext board surging 2.5 percent. Shares of these two oil major companies shaved off 2.3 and 1.8 percent respectively in Hong Kong, outpacing the Hang Seng index which eased 0.8 percent.
Japan’s Nikkei 225 recouped some of Monday’s losses, helped by buying in shares of financials and mobile phone service providers.