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New Zealand Rate Decision Due On Wednesday
(RTTNews) - The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The RBNZ is widely expected to trim its Official Cash Rate (OCR) by 25 basis points, to 3.50 percent from 3.75 percent.
Australia will release February figures for building approvals, with forecasts suggesting a decline of 0.3 percent on month following the 6.9 percent jump in January.
South Korea will provide March numbers for unemployment; in February, the jobless rate was 2.7 percent.
Japan will see March results for its household confidence index, with forecasts suggesting a score of 34.7 - easing from 35.0 in February.
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Pound Slides Against Majors
The British pound weakened against other major currencies in the early European session on Tuesday.
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European Shares Seen Tad Higher As Sino-US Trade Talks Enter Second Day
European stocks are likely to open higher on Tuesday as U.S.-China trade talks continue for a second day in London to defuse tensions over chip exports and critical minerals.
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Australia NAB Business Conditions Ease; Confidence Improves
Australian business conditions eased in May amid ongoing profitability pressures and soft demand, while business confidence improved from the last month, survey data from NAB showed on Tuesday. A monthly survey conducted by Westpac showed that consumer confidence rose moderately in June, underpinned by interest rate cut and softening inflation.
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Sensex, Nifty Lack Direction, Ongoing Trade Talks In Focus
Indian shares struggled for direction on Tuesday as investors waited for the outcome of U.S.-China talks that could pave the way for easing trade tensions.
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European Economic News Preview: UK Unemployment Data Due
Unemployment from the UK and industrial production from Italy are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is forecast to fall to 4.6 percent in three months to April from 4.5 percent in the preceding period.
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Australian Market Doubles Early Gains In Mid-market
The Australian stock market is doubling its early gains in mid-market trading on Tuesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,600 level, with gains in iron ore miners, financial, technology and energy stocks partially offset by weakness in gold miners.
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Asian Markets Trade Mostly Higher
Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid easing trade war tensions between the US and China after the two superpowers began high-level trade talks in London, with negotiations expected to continue on Tuesday. The tariff war between the two countries has already rattled the global economy.
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Sensex, Nifty Seen Higher At Open As Sino-US Talks Continue
Indian shares look set to open on a positive note Tuesday as top officials from the U.S. and China continue their trade talks for a second day today to resolve their differences and ease tensions over rare-earth minerals and technology shipments.
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