We had a mixed close from the US yesterday, and even Asia this morning lacked significant direction. As we move into Tuesday we are awaiting some high impact data later today from the US, with inflation data for February hitting the wires.
In the meantime fears of a trade war, as Trump impliments the steel tariffs (but excluded Canada and Mexico), is affecting broader investor sentiment. Later today the US inflation numbers will also attract attention as uncertainity on the outcome of US monetary policy continues to linger.
US Dollar closed weaker on Monday, so far early into Tuesday’s session the US Dollar index (DXY) has managed to show some consolidation and is still in the positive compared to session open.
Yen is a loser across the board after a political scandal has clouded Abe’s government. The Finance ministry has admitted to altering documents in a case related to the sale of state-owned land to a school operator linked to Abe’s wife.
