(MENAFN- DailyFX) Talking Points:
Asian stocks were broadly lower Tuesday More hot words between Washington and Pyongyang did the trick Oil prices gained as Turkey threatened Kurdish supplies Just getting started in foreign exchange trading? Our is here for you
Perceived haven assets were to the fore in Asia Tuesday, to the modest detriment of equity markets across the region, thanks to more warlike rhetoric between the US and North Korea.
The latter's Foreign Minister said Monday that the US had declared war, something the White House denied. However, reports of Pyongyang moving more aircraft to its eastern coastal regions kept the issue front and centre for investors. Market falls weren't large but they were broad. The Nikkei 225 ended down 0.3%, with slips of similar magnitude seen elsewhere except for Shanghai where losses were marginal. The ASX fell into the close having held up for much of the day.
Oil prices extended gains with international benchmark Brent hitting a 26-month high. Turkish threats to cut supply from in the wake of its pro-independence referendum were behind much of the rise.
In the currency space there was a familiar picture of in the face of North Korean rhetoric, while gold, too made gains. Action may have been limited however by the wait to hear from Federal Reserve Chair Janet Yellen. She will speak on the meaty topics of 'Inflation, Uncertainty and Monetary Policy at 1645GMT.
That aside the rest of the global session offers US consumer confidence as the probable economic data highlight. New home sales numbers will form part of the support act as will mortgage lending figures out of the UK. European Central Bank board member Peter Praet will speak in Frankfurt.
--- Written by David Cottle, DailyFX Research
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