Japan Construction Orders (YoY): 42.7% (February) vs 5.7%

Japan Housing Starts (YoY) came in at -4.9% below forecasts (-4.7%) in February

Japan Annualized Housing Starts down to 0.751M in February from previous 0.755M

Citing administration officials, the Wall Street Journal (WSJ) reported on Tuesday that US President Donald Trump told aides he is willing to end the US military campaign against Iran even if the Strait of Hormuz remains largely closed.

China’s Manufacturing Purchasing Managers' Index (PMI) jumped to 50.4 in March, compared to 49 in February, according to the latest data published by the National Bureau of Statistics (NBS) on Tuesday.  

China NBS Manufacturing PMI registered at 50.4 above expectations (50.1) in March

China NBS Non-Manufacturing PMI registered at 50.1 above expectations (49.9) in March

AUD/USD halts its five-day losing streak, trading around 0.6860 during the Asian hours on Tuesday. The pair advances as the Australian Dollar (AUD) receives support after the Reserve Bank of Australia released its March Meeting Minutes.

The Reserve Bank of Australia (RBA) published the Minutes of its March monetary policy meeting this Tuesday, which showed that board members agreed that further tightening would likely be needed.

Australia Private Sector Credit (YoY): 7.8% (February) vs 7.7%

Australia Private Sector Credit (MoM) meets expectations (0.6%) in February

Japan Large Retailer Sales remains at 3% in February

New Zealand ANZ Business Confidence fell from previous 59.2 to 32.5 in March

Japan Retail Trade s.a (MoM) declined to -2% in February from previous 4.1%

Japan Industrial Production (YoY) down to 0.3% in February from previous 0.7%

Japan Retail Trade (YoY) came in at -0.2% below forecasts (0.8%) in February

Japan Industrial Production (MoM) meets forecasts (-2.1%) in February

Japan Unemployment Rate came in at 2.6%, below expectations (2.7%) in February

Japan Tokyo CPI ex Food, Energy (YoY) down to 1.7% in March from previous 1.8%

Japan Tokyo CPI ex Fresh Food (YoY) below expectations (1.8%) in March: Actual (1.7%)

Japan Tokyo Consumer Price Index (YoY) dipped from previous 1.6% to 1.4% in March

Japan Jobs / Applicants Ratio above expectations (1.18) in February: Actual (1.19)

United Kingdom BRC Shop Price Index (YoY) rose from previous 1.1% to 1.2% in March

South Korea Service Sector Output rose from previous 0% to 0.5% in February

OCBC notes that the Malaysian Ringgit has weakened alongside regional peers despite Malaysia’s commodity‑exporter status.

Commerzbank highlights that Thailand’s February manufacturing output was flat year-on-year, hurt by refinery maintenance and softer external demand linked to a strong Thai Baht (THB). Authorities have cut fuel subsidies and excise taxes as Oil prices surge, but fiscal space is constrained.

Mexico Fiscal Balance, pesos fell from previous -19.318B to -50.73B in February

MUFG’s Senior Currency Analyst Lloyd Chan highlights that prolonged US–Iran tensions and potential damage to Middle Eastern energy infrastructure are increasingly weighing on Asian currencies.

John Williams, President of the Federal Reserve Bank of New York (Fed), said that monetary policy is well-positioned for any unusual circumstances. He told Reuters that the job market is still sending out mixed signals on Monday.

HSBC Asset Management highlights that Emerging Markets have weathered higher Oil prices and a stronger Dollar better than in past cycles, thanks to stronger policy frameworks and diverse country exposures.