Australia CPI inflation, stocks, currencies, yields

Shoppers walking around Pitt Street Mall on June 07, 2022 in Sydney, Australia.

Brendon Thorne | Getty Images News | Getty Images

Shares in the Asia-Pacific were poised to rise Wednesday as sentiment overnight improved over the Fed potentially turning less aggressive and ahead of Australia’s inflation report.

The Nikkei futures contract in Chicago was at 27,410 while its counterpart in Osaka was at 27,520. That’s higher than the Nikkei 225’s last close at 27,250.28.

In Australia, the S&P/ASX 200 rose 0.6%. the Australian dollar weakened to $0.6382 as investors await inflation data due in the country.

India’s market is closed for a holiday. corporate news, Standard Chartered, Ping Anand SK Hynix are among the companies slated to report earnings Wednesday.

Overnight in the US, major indexes rose for a third straight session as bond yields slide. The Dow Jones Industrial Average closed 337.12 points higher, or about 1.1%, to end at 31,836.74. The S&P 500 advanced 1.6%, closing at 3,859.11. The Nasdaq Composite popped up 2.2%, landing at 11,199.12.

“Markets rebounded overnight driven by better earnings reports and speculation that the monetary policy tightening cycle may be nearing its end,” analysts wrote in an ANZ Research note, adding that falling consumer confidence and house prices indicate that tightening policies may be starting to reduce demand .

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