Asian stocks rise, dollar eases ahead of US inflation data

Singapore, Dec. 12 (BNA): Asian shares rose on Tuesday while the dollar drifted lower as investors stayed cautious ahead of a crucial U.S. inflation report later in the day that will set the tone for a week filled with central bank meetings.

 

The U.S. Federal Reserve is widely expected to hold rates on Wednesday, with the spotlight squarely on comments from Chair Jerome Powell during his press conference as well as the central bank’s dot plot and economic projections, Reuters reported.

 

Before that, the U.S. Labor Department’s Consumer Price Index (CPI) report later on Tuesday is expected to show inflation still cooling but staying well above the Fed’s 2% annual target, with core CPI expected to come in at 4%.

 

That has meant investors are hesitant in placing major bets, with futures indicating European stock markets are set for a muted open. Eurostoxx 50 futures was up 0.11%, German DAX futures 0.17% higher and FTSE futures up 0.06%.

 

In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.54%.

 

 

M.I.