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Analysts expect the headline CPI to have risen 0.2 percent month-on-month in August, unchanged from the previous month.
The dollar dropped while gold gained ground due to dovish Fed expectations. Current expectations lean towards a 25-bps cut, but that won’t be enough to get ahead of the economy.
Oil prices rose more than 1 percent in Asian trading, after having dropped to near three years low in the New York session on concerns over a weak demand outlook.
Chinese markets hit a seven-month low as the U.S. House of Representatives approved BIOSECURE Act, restricting U.S. ties with specific Chinese biotech companies to safeguard national security.
The benchmark Shanghai Composite index fell 0.82 percent to 2,721.80. Hong Kong’s Hang Seng index settled 0.73 percent lower at 17,108.71, after having fallen to a near one-month low earlier.
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First Published: Sep 11 2024 | 3:58 PM IST