Australia CPI inflation, stocks, currencies, returns

Shoppers walk around Pitt Street Mall on June 07, 2022 in Sydney, Australia.

Brendon Thorne | Getty Images News | Getty Images

Shares in Asia-Pacific were poised to rise on Wednesday as sentiment improved overnight about the Fed potentially becoming less aggressive ahead of the Australian inflation report.

The Nikkei futures contract in Chicago stood at 27,410, while its counterpart in Osaka stood at 27,520. That is higher than the last closing price of the Nikkei 225 at 27,250.28.

In Australia, the S&P/ASX 200 rose 0.6%. The Australian dollar weakened to $0.6382 as investors await inflation data expected in the country.

The Indian market is closed for a public holiday. In company news, Standard Chartered, Ping An and SK Hynix are among the companies to report earnings on Wednesday.

Overnight, major US indices rose for a third straight session as bond yields fell. The Dow Jones Industrial Average closed 337.12 points higher, or about 1.1%, to end at 31,836.74. The S&P 500 was up 1.6% and closed at 3,859.11 points. The Nasdaq Composite fell 2.2% to reach 11,199.12 points.

“Markets recovered overnight, driven by better earnings reports and speculation that the monetary policy tightening cycle is nearing its end,” analysts wrote in an ANZ Research note, adding that declining consumer confidence and house prices indicate that the tightening policy may begin to reduce demand .

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