Key Points
SYDNEY (Reuters) -Asian shares were subdued on Friday as the escalating conflict in the Red Sea region sent oil prices surging, while slightly higher-than-expected U.S. inflation data did not dent investors views on early and aggressive rate cuts in the U.S. and Europe...
The rally in rates may have been helped by dovish comments from European Central Bank (ECB) President Christine Lagarde who said rate cuts would occur if the central bank has certainty that inflation had fallen to the 2% level...
European markets are set to open higher, with EUROSTOXX 50 futures jumping 0.7% and FTSE futures up 0.4%..
Chinese inflation data showed the countrys economic recovery remained weak in December, with the consumer price index falling 0.3% from a year ago..
Overnight, Wall Street reversed earlier declines and was mostly flat on the day after data showed U.S. consumer prices rose more than expected in December, with a closely watched core measure coming in slightly above consensus.. Andrew Lilley, chief rates strategist at Barrenjoey, said that even though the core U.S. inflation data came in a little stronger than expected, it does not suggest a strong read on PCE, which is the Feds preferred gauge of inflation...
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