Shares flat in Asia before Iran sanctions news, Nvidia results

Business Recorder reported that Asian equities barely moved on Monday, while crude eased as traders waited for details of the sanctions Washington has threatened against Iran. Brent dipped 1.0% to $93.43 a barrel and US crude slipped 1.1% to $86.14, though Brent had risen 6.6% the previous week. The Canadian dollar weakened slightly against the US dollar after Prime Minister Mark Carney vowed retaliatory levies once trade talks broke down.

Investors across the tech sector are closely watching Nvidia's results on Wednesday, with analysts generally expecting quarterly revenue to nearly double to about $92 billion. Full-year earnings guidance is expected to fall between $103 billion and $105 billion, and investors recognise the chipmaker faces very demanding expectations. Federal Reserve Chairman Kevin Warsh speaks at Jackson Hole on Friday, but his reluctance to offer forward guidance could disappoint those seeking clarity on interest rates.

Markets imply roughly a 40% chance of a Fed rate increase at the September 16 meeting, and a move is fully priced in by December. Gold rose 0.4% to $4,623 an ounce and is up more than 14% so far this month, which would be its biggest monthly rise on record if sustained through August. Thirty-year Treasury yields stood at 5.2760%, close to a 19-year peak of 5.3371%.