Asian Stocks Head Up Again, US Inflation Data Come Into Focus
- Asian markets gained broadly as risk appetite endured
- The US Dollar slipped back as Treasury yields did the same
- However the day’s US inflation numbers are eagerly awaited
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Asian stock markets were broadly higher again Friday as investors looked with hope at the regional economy and earnings prospects.
Local data were sparse but informative. China’s trade surplus came in well below estimates, with export levels also underwhelming. However imports rose quite sharply suggesting robust internal demand in the world’s second-largest economy.
The US Dollar edged lower, along with Treasury yields as markets wondered how much more rates will rise Stateside beyond the expected increase at the end of this year. However, upcoming US inflation data could yet lift the greenback before the week wraps up.
The remainder of Friday’s scheduled economic news has a distinct US bias with those official Consumer Price Index and retail sales figures coming up, along with the University of Michigan’s venerable monthly snapshot of consumer confidence.
--- Written by David Cottle, DailyFX Research
Contact and follow David on Twitter:@DavidCottleFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.