The dollar was down on Tuesday morning in Asia, as investors await U.S. inflation data that could provide a clue to the U.S. Federal Reserve’s timetable for asset tapering.
Oil was down Tuesday morning in Asia, extending gains and remaining near a six-week high. Markets are bracing for another storm that could impact production in Texas as the U.S. Gulf Coast continues to recover from Hurricane Ida that hit the region at the end of August.
The S&P 500 closed higher on Monday, ending a five-day losing streak as investors focused on potential corporate tax hikes and upcoming economic data.
Asia’s share markets were mixed and the dollar held steady on Tuesday, with investors awaiting U.S inflation data for more clues on when the Federal Reserve will taper stimulus.
Gold was down on Monday morning in Asia as the dollar continued to strengthen. Investors now look to U.S. data for further clues on the U.S. Federal Reserve’s timetable to begin asset tapering.
Oil prices rose for a second session on Monday as concerns over U.S. output following damage from Hurricane Ida supported the market, along with expectations for higher demand.