• Sterling was flat on the day at $1.3115, nursing losses after it skidded in the previous session against a backdrop of political turmoil as British lawmakers this week debate the U.K. government’s plans for leaving the European Union.
Also in focus, European Central Bank chief Mario Draghi, Federal Reserve Chair Janet Yellen, Bank of Japan Governor Haruhiko Kuroda and Bank of England head Mark Carney will form a panel on central bank communication at the ECB-hosted conference in Frankfurt later on Tuesday.
• The dollar index, which tracks the U.S. currency against a basket of six major rivals, was steady on the day at 94.486.
Against its Japanese counterpart, the dollar inched slightly higher to 113.66 yen, but remained below its eight-month high of 114.735 hit last week.
• The yield on two-year U.S. Treasury notes scaled a nine-year peak on Monday, as the yield curve resumed its flattening and investors priced in a 25-basis-point interest rate hike by the Federal Reserve next month. [US/]
The 10-year Treasury yield rose to 2.407 percent from its U.S. close on Monday of 2.400 percent. It was at 2.304 percent as early as Nov. 8.
• China’s October property sales and new construction starts fell in October as the property market cooled from a two-year boom in the face of a tighter liquidity environment and a crackdown on riskier lending.
Property sales by floor area fell by 6.0 percent in October from a year earlier, compared with a 1.5 percent decline in September, according to Reuters calculations. The decline was the biggest since the first two months of 2015.
• China’s economy cooled further last month, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution.
Data on Tuesday pointed to moderating growth over the next few quarters as credit expansion slows, with year-on-year industrial output gain of 6.2 percent in October missing analysts’ estimates of a 6.3 percent rise, and below a 6.6 percent increase in September.
Fixed-asset investment growth slowed to 7.3 percent in the January-October period, the National Bureau of Statistics (NBS) said. Analysts had expected an increase of7.4 percent.
• Oil prices fell on Tuesday as the prospect of further rises in U.S. output undermined ongoing OPEC-led production cuts aimed at tightening the market.
Brent crude futures LCOc1 were at $62.85 per barrel at 0747 GMT, down 31 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude CLc1 was at $56.55 per barrel, down 21 cents, or 0.4 percent.
Reference: Reuters
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