ASIA CAUTIOUS , YIELDS RANGE, OIL & DOLLAR FALL.

ECONOMY

On Wednesday, Asian markets a cautious start as the White House took a tough line on a trade deal with China, just as investors were bracing for the latest batch of economic data from the Asian giant.
A measure of Australian consumer confidence dipped in June as a run of disappointing data on the economy overshadowed a cut in interest rates and a hint of stability in falling house prices.
President Donald Trump said on Tuesday he was holding up a trade deal with China and had no interest in moving ahead unless Beijing agrees to four or five “major points” which he did not specify. He also took aim at the Federal Reserve, saying interest rates were “way too high” and the central bank had “no clue”.
Japan’s machinery orders unexpectedly rose for a third straight month in April, in a sign business investment is holding up even as an intensifying Sino-U.S. trade war and global slowdown pile pressure on the country’s export sector.
Solid domestic demand could dampen speculation that Prime Minister Shinzo Abe may once again postpone a twice-delayed sales tax hike to 10% from the current 8% in October.
The Indian government on Tuesday defended its methodology of calculating the country’s economic growth, countering the argument of a former top economic advisor who said that Asia’s third-largest economy might be overestimating its growth rate.

The 10-year Treasury note yield -0.04% was virtually unchanged at 2.140%, after touching an intraday peak of 2.177%.
The 30-year bond yield -0.15% was down 0.6 basis points to 2.617%.
The 2-year note yield -0.65% was up 2.2 basis points to 1.922%. Debt prices move in the opposite direction of yields.

The dollar hung near an 11-week low against its peers on Wednesday, weighed by expectations the U.S. Federal Reserve could cut interest rates some time in the next few months. Dollar Index stalled on a basket of currencies at 96.63.
Trump also put currency markets on edge by tweeting that the euro and other currencies were “devalued” against the dollar, putting the United States at a “big disadvantage”.
Euro a lift to $1.1330, just short of the recent three-month top of $1.1347.
The dollar eased back a touch on the yen to 108.49.

The chatter of rate cuts globally kept gold near 14-month highs at $1,326.75 per ounce.
Oil prices fell on Wednesday, weighed down by a weaker oil demand outlook and a rise in U.S. crude inventories despite growing expectations of ongoing OPEC-led supply cuts. Brent crude futures fell 68 cents to $61.52, while U.S. crude lost 57 cents to $52.70 a barrel.