Asian stock markets are trading mixed on Tuesday, following the mixed cues from Wall Street overnight, as traders remain cautious ahead of key US inflation data, including producer and consumer price inflation, due later in the day that could offer more clarity on the US Fed's interest rate trajectory. Asian markets closed mostly lower on Monday.

Indian shares are seen opening slightly higher on Tuesday after data showed India's retail inflation eased marginally to an 11-month low of 4.83 percent on an annual basis in April from 4.85 percent in the previous month.

Adding to the gains in the previous two sessions, the Japanese stock market is slightly higher on Tuesday, with the Nikkei 225 moving above the 38,200 level, following the mixed cues from Wall Street overnight, with gains is index heavyweights and exporters.

The Thai stock market has ticked higher in two straight sessions, rising just 3 points or 0.2 percent in that span. The Stock Exchange of Thailand now sits just above the 1,370-point plateau although it may fade on Tuesday.

The Indonesia stock market on Monday snapped the two-day slide in which it had eased almost 50 points or 0.7 percent. The Jakarta Composite Index now sits just beneath the 7,100-point plateau although it may head south again on Tuesday.

US CPI report may show the next direction of EURUSD; UK employment data may take GBPUSD down; Is Australia labour report strong enough to take AUDUSD out of trading range?

The price of Brent crude oil is currently experiencing a downturn, trading around 82.55 USD per barrel this Monday. The primary concern affecting the market today is the uncertainty surrounding demand levels, exerting significant pressure on the commodity.

Oil-dollar pair fell 1.8%, ROC negative. Aussie dollar sideways, MACD positive. Euro-dollar sideways, MACD positive. Dollar-yen sideways, Stochastic RSI positive. China's consumer prices up for third month. Seeker's shares soar 35% above IPO price. Today: US bill auctions, Finland's Current Account, Portugal's CPI, Eurozone's Eurogroup Meeting, Japan's PPI.

Dollar gains slightly on hawkish Fed remarks - Investors scale back their Fed rate cut bets - China’s CPI rises for the third straight month - US stocks stay supported despite rebound in yields

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Crypto market under pressure from Bitcoin