Global Markets Await US Inflation Data and US-China Summit
Asian shares edged higher ahead of the release of a crucial U.S. inflation report that could impact the Federal Reserve's policy outlook. The yen remained fragile, nearing 33-year lows, which could trigger intervention by Japanese authorities. European shares are expected to remain listless. Investors are awaiting the U.S. inflation report, with economists predicting a slowdown in consumer price inflation. China shares were marginally lower, while Hong Kong's Hang Seng Index was up. Benchmark 10-year Treasury yields eased slightly. Moody's recently downgraded the U.S.'s AAA credit rating outlook. The yen's decline has traders watching for potential intervention, with the U.S. inflation data likely to be the trigger. The dollar index was up, while oil prices were slightly higher.