Asian stocks edge up as oil steadies, US inflation data in focus

france24.com —

Asian stocks mostly rose Wednesday as oil prices recovered slightly after plunging over two percent the previous day, though gains were tempered by investor caution ahead of key US inflation data that could influence Federal Reserve interest rate decisions. Crude fell Tuesday on hopes for a US-Iran deal to reopen the Strait of Hormuz, Saudi Arabia restoring half its East-West pipeline capacity, and the Trump administration releasing more emergency reserves. Brent and West Texas Intermediate dropped below $90 a barrel before edging back up Wednesday. The inflation report, due later Wednesday, is the Fed's preferred gauge and could make a second consecutive rate hike likely if above forecast. New York Fed chief John Williams suggested no urgency for action, while US 30-year Treasury yields hit a 24-year high above 5.6 percent.


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Asian stocks edge up as oil steadies, US inflation data in focus | News Minimalist