Reserve Bank of Australia rate decision coming soon

SINGAPORE — Equities in Japan looked set for a positive start on Tuesday, as Asia-Pacific investors eagerly awaited the latest rate decision from the Reserve Bank of Australia.

The Nikkei futures contract in Chicago was at 27,970 while its counterpart in Osaka was at 27,950. This compares to the Nikkei 225’s last close at 27,736.47.

Elsewhere, Australian stocks also looked set for a higher start. The SPI futures contract settled at 7,528, versus the S&P/ASX 200’s last close at 7,513.70.

The Reserve Bank of Australia is expected to announce its latest interest rate decision at 12:30 p.m. HK/SIN on Tuesday.

Prior to the move, the Aussie dollar changed hands at $0.7542, following yesterday’s jump below $0.75.

Markets in Hong Kong and mainland China are closed on Tuesday for a public holiday.

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Overnight on Wall Street, the S&P 500 climbed 0.81% to 4,582.64. The Dow Jones Industrial Average gained 103.61 points, or 0.3%, to 34,921.88. The tech-heavy Nasdaq Composite outperformed, jumping 1.9% to 14,532.55.

Currencies

the The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 99 after a recent rally below 98.6.

The Japanese yen was trading at 122.77 to the dollar, weaker than the sub-122 levels seen against the greenback last week.

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