- Global Equities Fluctuate Ahead of Key US CPI Data
- S&P 500 futures climb after benchmark set new 2022 low
- Yen weakened to fresh two-decade low on Kuroda’s policy vow
US equity futures and Australian shares climbed while Japanese stocks opened lower in mixed, cautious trading as investors await highly anticipated inflation data later Thursday.
The support for US equities followed the sixth consecutive decline for the S&P 500, which fell to the lowest level since November 2020. Hong Kong equity futures fell, underscoring the cautious mood. The dollar held on to recent gains and the yen tumbled to a fresh 24-year low that puts traders on watch for intervention from Japan. Treasuries rallied.
Minutes released on Wednesday from the Fed’s last meeting suggested some officials considered reducing the pace of rate hikes, which triggered a brief surge on Wall Street that quickly unwound.
The pound advanced after a busy day of bond buying from the Bank of England, which reiterated the view that its emergency support for the gilt market would cease on Friday, contradicting a media report that suggested it could endure.
The Biden administration is considering adding aluminum to economic sanctions against Russia. Vladimir Putin said any energy infrastructure in the world is at risk after the explosions on the Nord Stream pipelines. Oil benchmarks fell more than 2% on Wednesday.