Reserve Bank of Australia meeting minutes ahead

SINGAPORE – Asia-Pacific shares look set for a mixed start on Tuesday, with investors awaiting meeting minutes from the Reserve Bank of Australia.

Futures point to lower openings for Japanese stocks. The Nikkei futures contract was at 26,515 in Chicago and the equivalent at 26,460 in Osaka. Which compares the Nikkei 225 to the last 26,547.05.

Australian stocks were ready for a higher start, at 7,100 in the SPI Futures Agreement, as against the last 7,093 at the S&P / ASX 200.

The Reserve Bank of Australia is due to release minutes from its monetary policy meeting on HK / SIN at 9:30 am on Tuesday. Earlier in May, the Australian Federal Bank announced the first rate hike in more than a decade.

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Tapas Strickland, an economist at the National Bank of Australia, wrote in a Tuesday note, “The main interest of the minutes is whether they give any insight into the 40-50bp increase in the RBA’s appetite.”

Overnight, the S&P 500 fell 0.39% to 4,008.01 while the tech-heavy Nasdaq Composite fell 1.2% to 11,662.79. The Dow Jones Industrial Average rose 26.76 points, or 0.08%, to 32,223.42.

Coin

The US dollar index, which tracks the greenback against a basket of its peers, was at 104.187 – a recent level above 104.5.

The Japanese yen traded at 128.99 per dollar, stronger than the level above 130 against the greenback last week. The Australian dollar traded at 69 0.6968 after a recent bounce from 0.693.

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