In Asian Equity Markets indices traded sideways on Tuesday, after US markets gave up gains and as investors look forward to the release of U.S. inflation data later in the day. But major steel producers in the region suffered losses on expectations that they would be hit by President Donald Trump’s tariffs on steel and aluminum imports. Australian shares eased 0.58 percent, with Bluescope Steel down close to 2 percent. Over in Japan, the benchmark index Nikkei 225 alternated between being in the red and green before settling flat. Within the steel sector, JFE Holdings lost 1.92 percent and Nippon Steel eased 1.08 percent.

In Currencies Markets the yen held firm against the dollar on Tuesday as a political scandal engulfing Japanese Prime Minister Shinzo Abe’s government raised doubts about his ability to continue to pursue his economic policies, including monetary easing. The yen traded at 106.44 per U.S. dollar, after gaining 0.4 percent the previous day as Abe’s cronyism scandal attracted fresh attention from market participants. The euro traded at $1.2335, having lost steam since Thursday when European Central Bank President Mario Draghi struck a cautious tone on the euro zone economy. Other major currencies were little changed with the U.S. CPI data due at 12:30 GMT seen as a key focus for the day.

In Commodities Markets oil prices fell on Tuesday, extending losses from the previous session, as the inexorable rise in U.S. crude output weighed on markets. U.S. West Texas Intermediate (WTI) crude futures were at $61.25 a barrel, down 11 cents, or 0.2 percent, from their previous close. Brent crude futures were at $64.85 per barrel, down 10 cents, or 0.2 percent. Both crude benchmarks fell by around 1 percent in their Monday sessions. U.S. crude production from major shale formations is expected to rise by 131,000 bpd in April from the previous month to a record 6.95 million bpd, the U.S. Energy Information Administration (EIA) said in a monthly report on Monday.

In US Equity Markets indices struggled to hold on to early gains on Monday as losses in industrial stocks including Boeing and Caterpillar more than offset gains in chipmakers and technology companies. The tech-heavy Nasdaq, by contrast, gained around 0.4 percent. The S&P 500 was down just 0.1 percent at 2,783.96. Shares of Micron Technology jumped nearly 10 percent after analysts at Nomura raised their target for the stock to $100 – $41 above current rates. Ocular jumped 27 percent after laser and optical fiber specialist Lumen Holdings said it would buy the optical components producer for $1.7 billion. Lumentum’s shares rose 7.6 percent.

In Bond Markets increased supply did not quell demand for three- and 10-year Treasury notes auctioned Monday, a positive sign for the heavy issuance expected in the year ahead. Monday’s auctions saw the $28 billion three-year note sold at slightly lower-than-expected yields at 2.436 percent, suggesting steady demand from investors. The high yield at the $21 billion 10-year note reopening was 1 basis point below the expected number.  The yield on the three-year note closed at 2.425 percent, slightly off the 10-year high of 2.455 percent reached on Friday. The benchmark 10-year government note closed at 2.868 percent, down from 2.957 percent hit on Feb. 21, its highest since trading above 3 percent in January 2014.