US inflation and economic recovery, and the threat of the Delta variant, are all contending for attention, with Asia offering no clear direction
A trader works on the floor of the New York Stock Exchange in New York, the US. Picture: BLOOMBERG/MICHAEL NAGLE
The timing of the US Federal Reserve’s tapering of its monetary stimulus remains a key theme on markets, with consumer inflation from that country meeting expectations this week, though producer inflation numbers came in higher than expected — showing the continued effect of supply-chain disruptions.
“It’s a struggle to identify a dominant theme in markets overnight, perhaps not too surprisingly given we’re in the midst of the northern hemisphere summer holiday season and, dare I say it, market are apt to meander through August as we await what should be some year-defining market events in September”, National Australia Bank analyst Ray Attrill said in a note.
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