Asian shares went up on Tuesday while the dollar stood firm as positive U.S. earnings boosted Wall Street and factory surveys in the U.S. and Europe bragged about their best readings so far this year.
MSCI’s broadest index of Asia Pacific shares outside Japan .MIAPJ0000PUS was up 0.1 percent with most components yet to trade.
Australian stocks added 0.5 percent and futures NKc1 pointed to an opening gain of around 0.8 percent for Japan’s Nikkei .N225 helped softening yen.
Dow .DJI rose 0.46 percent, while the S&P 500 .SPX gained 0.47 percent and the Nasdaq .IXIC or 0.91 percent.
The U.S. dollar was also lifted to a nine-month high against a basket of major currencies at 98.846 .DXY. It remained firm on the yen at 104.28 JPY= while the euro struggled at $1.0870 EUR=.
Oil prices dipped early on Tuesday over disagreement within producer cartel OPEC on who should cut and how much production in a planned coordinated decrease to prop up prices.
U.S. West Texas Intermediate (WTI) crude futures were down 5 cents at $50.47 a barrel.
International Brent crude oil futures traded at $51.38 per barrel, down 8 cents from their last close.
ANZ Bank said, “Crude oil prices labored under the weight of various OPEC members seeking exemption from the production cut agreement.”
Weekly crude stocks estimates are due to be published by the private American Petroleum Institute (API), followed by the official Energy Information Administration (EIAD) data.U.S. crude inventory data is closely watched as a means to estimate the country’s supply overhang.