Asian Markets Rise as Middle East Tensions Ease and Traders Await US Inflation Data
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#10d0212a ver:0.63

Asian and European markets rose as traders considered the outlook for US interest rates. Federal Reserve officials questioned the need for a rate cut anytime soon, citing sticky inflation and a resilient US economy. Expectations for rate cuts in 2024 have fallen from six predicted at the start of the year to just two. Cleveland Fed chief Loretta Mester stated that borrowing costs were at the right level for now and there was no rush to reduce them. Governor Michelle Bowman added that time will tell whether the current level is sufficiently restrictive. The rally across global markets has given way to concerns about overdone valuations, and the current earnings season is seen as key to maintaining momentum .

Oil prices ticked up after a previous day's plunge, which was fueled by softer dem...

#newstr #AsianMarkets #MiddleEastTensions #UsInflation #CorporateEarnings 

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