Investors will watch for the release of the Reserve Bank of Australia's meeting minutes, for clues on the next monetary policy move by the central bank after it cut its cash rate to a new record low in July.
Investors will watch out for the Reserve Bank of Australia's meeting minutes, set to be released set to be released at 9:30 a.m. HK/SIN.
Overnight on Wall Street, stocks edged upward toward new records, but remained muted amid the corporate earnings season. Stocks in Asia were set to trade lower on Tuesday, while investors await the release of meeting minutes from theFutures pointed to a lower open for Japanese stocks, which return to trade on Tuesday after a holiday on Monday. The Nikkei futures contract in Chicago was at 21,605, as compared to theOver in Australia, shares were set to slip. The SPI futures contract was at 6,592.
Kim Mundy, currency strategist at Commonwealth Bank of Australia, said: "We expect the minutes to reiterate the RBA is on hold in the near term and will cut the cash rate again 'if needed. "We expect the RBA will now want to wait and assess the impact of the latest cash rate cuts and personal income tax cuts. However, we still expect another cut to the cash rate in November, taking the cash rate down to 0.75%.
Overnight on Wall Street, stocks edged upward toward new records, but remained muted amid the corporate earnings season. The outlook for this earnings season is bleak. Analysts expect
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