In Asian Equity Markets stocks wobbled on Wednesday as investors remain cautious about China’s path to reopening its economy after it released disappointing manufacturing data, with China and Hong Kong stocks wiping out strong gains from the previous day. MSCI’s gauge of Asia Pacific stocks outside Japan was up 0.02 percent, paring earlier losses. Hong Kong’s Hang Seng Index and China’s benchmark CSI300 Index, though, opened down 0.4 percent and 0.3 percent respectively. Japan’s Nikkei 225 fell 0.55 percent while Australia’s S&P/ASX 200 gained 0.29 percent.

In Currency Markets the U.S. dollar stuck close to a one-week high on Wednesday, holding on to gains from a three-day rally, as investors braced for comments from Fed Chair Jerome Powell later and a crucial monthly jobs report at the end of the week. The U.S. dollar index eased 0.13 percent to 106.72 after reaching 106.9 in early Asian trading for the first time since Nov. 23. The dollar fell 0.07 percent to 138.60 yen, as the pair continued to consolidate following a bounce from a three-month low of 137.50 on Monday. The euro ticked up 0.15 percent to $1.03435. Sterling added 0.19 percent to $1.1976.

In US Equity Markets the S&P 500 ended down on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes. The S&P 500 declined 0.16 percent to end the session at 3,957.60 points. The Nasdaq declined 0.59 percent to 10,983.78 points, while Dow rose 0.01 percent to 33,852.13 points. Investors also focused on recent protests against COVID-19 curbs in China, including at the world’s biggest iPhone factory. Apple’s stock fell 2.1 percent, down for a fourth straight session.

In Commodities Markets oil rose on Tuesday on expectations for a loosening of China’s strict COVID-19 controls, but concerns that OPEC+ would keep its output unchanged at its upcoming meeting limited gains. Brent crude futures settled at $83.03 a barrel, losing 0.2 percent. U.S. West Texas Intermediate (WTI) crude futures settled at $78.20 a barrel, up 1.2 percent. Spot gold gained 0.6 percent to $1,751.21 per ounce. Elsewhere, spot silver rose 1.9 percent to $21.31 per ounce, platinum gained 1.5 percent to $1,003.50, while palladium fell 0.3 percent to $1,838.91.

In European Equity Markets stocks fell in cautious trading on Tuesday as a fall in technology and chemicals stocks offset a rally in commodity-linked shares spurred by hopes that Beijing could ease COVID-19 curbs following recent protests. The pan-European index closed a volatile session 0.1 percent lower after having risen up to 0.53 percent. European miners and oil majors gained 2.7 percent and 1.8 percent respectively, tracking metal and crude prices, while technology and chemical stocks declined 1.2 percent and 1.7 percent.

In Bond Markets U.S. Treasury yields rose on Tuesday as investors awaited comments this week by Federal Reserve Chairman Jerome Powell and labor market data for November that could reinforce expectations the U.S. central bank will slow its pace of hiking interest rates. The yield on 10-year Treasury notes rose 5 basis points to 3.752 percent, while the two-year yield, which typically moves in step with interest rate expectations, rose 1.5 basis points at 4.486 percent. The yield on the 30-year Treasury bond was up 5.5 basis points at 3.804 percent.