Asian shares rally as markets wager on Fed pivot; US inflation in focus
© Reuters. FILE PHOTO: A woman walks past a screen displaying the Hang Seng Index at Central district, in Hong Kong, China March 17, 2023. REUTERS/Tyrone Siu/File Photo
The recent buoyancy in sentiment also owe much to comments from more Fed officials suggesting rates there may have peaked, which triggered a welcoming pullback in Treasury yields. The dollar settled near a two-week low, but the yen is still under pressure at 149.09 per dollar, just a whisker away from the 150 level that could spur intervention from Japanese authorities.
Economists expect the headline consumer price index to haven risen 0.3% in September from August and core CPI is seen steady at 0.3%.), said an upside surprise in the core rate of 0.4% or more would catch investors off guard, although geopolitical risk is likely to deter the bond market from trading too bearishly on stronger data.
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