In Asia stocks were higher after Apple (NASDAQ:AAPL) rebounded and oil price gains boosted Wall Street. Nikkei gained about 0.8%.
USD/JPY was lower slightly in Asian trading on Tuesday, while the Australian dollar rose after central bank minutes reduced expectations of an interest rate cut. The AUD/USD was up 0.8% at $0.7349 after rising as high as $0.7368.
The dollar was down 0.1% at 108.92 yen, while euro also fell 0.1% to 123.25 yen. Against the dollar, the euro was nearly flat at $1.1317.
The British pound added 0.7% to $1.4488 after falling to a three-week low of $1.4333 in the previous session.
Oil futures were higher as the market focused on supply disruptions that prompted long-time bear Goldman Sachs to issue a bullish assessment on near-term prices.
U.S. West Texas Intermediate futures were up 50 cents at $48.22 a barrel. They hit $48.28 earlier in the session, the highest since November.
Brent crude futures were up 28 cents at $49.25 a barrel, near six-month highs of $49.47 reached on Monday.
In US equity markets, stocks rallied sharply on Monday, thanks to a rise in Apple shares and gains from energy stocks that were backed by stronger oil prices. The S&P 500 gained 0.98%, to 2,066.66.
Apple shares finished up 3.7% after Warren Buffett’s Berkshire Hathaway reported a stake worth about $1 billion in the iPhone maker. Anacor Pharmaceuticals rose 57.2% after Pfizer said it would buy the drugmaker in a deal valued at $5.2 billion.
In bond markets, Japanese government bond prices fell on Tuesday as buoyant Tokyo stocks and an overnight retreat by U.S. Treasuries put safe-haven debt under mild pressure.
The benchmark 10-year JGB yield rose half a basis point to minus 0.110%. June 10-year futures lost 0.04 point to 151.91.
JGBs remained a favoured asset for many investors under the Bank of Japan’s extensive monetary easing scheme, and Tuesday’s 2.4 trillion yen ($22 billion) five-year debt auction drew ample demand.
Economic Calendar
09:30 GMT+1 UK CPI y/y
13:30 GMT+1 CAD Manufacturing Sales m/m
13:30 GMT+1 US Building Permits
13:30 GMT+1 US CPI m/m
13:30 GMT+1 US Core CPI m/m
23:45 GMT+1 NZD PPI Input q/q
European Earnings:
Vodafone (LON:VOD) – Co. FY revenue GBP 41bln vs Exp. GBP 41bln, Q4 Organic service revenue growth 2.5% vs. Exp 1.5%, FY EBITDA GBP 11.6bln vs. Exp. GBP 11.7bln and Final dividend GBP 0.0777/shr vs. Exp GBP 0.0777/shr.
DCC (LON:DCC) – FY operating profit GBP 300.5mln vs. Prev. GBP 221.7mln Y/Y, FY revencue GBP 10.6bln vs. Prev. GBP 10.6bln Y/Y and Co. comments balance sheet gives capacity for further development.