Microsoft announced that it is expanding access to the wildly popular software OpenAI, a startup it is funding and whose ChatGPT chatbot has captured Silicon Valley's attention with its futuristic and innovative capabilities.

Microsoft announced that the startup's technology, which it had previously shown off to its cloud computing users in a program it called the Azure OpenAI Service, was now generally available. This development is anticipated to result in an explosion of new applications.

MACROECONOMIC DATA ANALYSIS

Indonesia's economic growth may have slowed to 4.81% on an annual basis in the fourth quarter of 2022 from 5.72% in the prior three months. According to a presentation made on Tuesday by central bank governor Perry Warjiyo, the Bank Indonesia (BI) anticipated that the economy would grow by 5.25% for the entire year of 2022 and 5.03% in 2023.

Malaysia's central bank will increase interest rates on Thursday for the fifth time in a row in an effort to contain high inflation and support a flagging currency. According to a Reuters poll. One of the first Asian central banks to raise rates in the current cycle was Bank Negara Malaysia (BNM), which has since increased rates by a total of 100 basis points. However, it has largely failed to rein in rising inflation, which was 4.0% in November.

CURRENCIES

The US dollar rose above multi-month lows on Tuesday, while the yen rose near seven-month highs as investors awaited a potential policy shift from the Bank of Japan. The Dollar Index which measures the value of the dollar greenback against a basket of six other currencies edged higher by 0.13% to 102.080.

GOLD

Gold prices were hovering near eight-month highs on Tuesday, having remained in a tight range in recent sessions as investors awaited more cues from a slew of economic data due this week, with a particular focus on any signs of a recession. Gold futures fell by 0.24% to $1,917 per ounce.

OIL

Oil prices were mixed on Tuesday morning after China reported its slowest economic growth in nearly a half-century, but the country's recent U-turn in its strict COVID policy boosted hopes of a recovery in fuel demand this year. Brent crude futures rose by 0.82% to $84.83 a barrel, while the West Texas Intermediate fell by 0.50% to $79.71 a barrel.

INDICES

USA: S&P500 +0.40%, Dow Jones Industrial Average +0.33%, Nasdaq Composite +0.71%

Europe: FTSE 100 +0.20%, DAX +0.31%, CAC 40 +0.28%

Asia: Nikkei 225 +1.17%, Hang Seng -0.94%, CSI 300 -0.09%, Nifty 50 +0.57%