Asia to Extend Risk Rally After US CPI Decline: Markets Wrap
Asian equities tracked gains on Wall Street as the latest US inflation data reinforced bets for Federal Reserve interest-rate cuts.
Asian equities tracked gains on Wall Street as the latest US inflation data reinforced bets for Federal Reserve interest-rate cuts.
Oil rose for a second day, buoyed by shrinking US stockpiles and a wider risk-on mood triggered by signs of ebbing US inflation.
Japan’s economy contracted in the first quarter as consumers and companies reduced spending, underscoring the fragile nature of the recovery and extending a dismal performance stretching back to last summer.
The yen extended gains in Asian trading on Thursday after rallying 1% overnight as traders ramped up bets that the Federal Reserve will ease monetary policy this year on signs US inflation pressures were easing.
A dearth of heavy crude is forcing one of the world’s biggest buyers to go the extra mile to get the barrels it needs, offering another example of how sanctions and OPEC+ curbs are recasting the supply chain.
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