Singapore, April 12 (BNA): Asian stocks fell on Wednesday ahead of an important US inflation report that is likely to weigh on the near term to which the Federal Reserve ends its aggressive interest rate hikes, as markets bet on at least one more in the month policy. next. interview.
Reuters reported that MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.17% in choppy trade, and is set to snap its three-day winning streak.
The calm mood looked set to continue in Europe, with futures pointing to a broadly lower open.
Eurostoxx 50 futures were down 0.16%, German DAX futures were up 0.01%, and FTSE futures were down 0.07%.
The CPI is expected to show core inflation rising by 0.4% m/m and 5.6% m/y in March.
Markets are now pricing in the 66% possibility that the Fed will raise interest rates by 25 basis points in May and then pause for subsequent meetings, according to CME FedWatch.
The Fed raised interest rates last month by a quarter of a percentage point, bringing them to a range of 4.75% to 5.00%.
ZHB