The dollar declined and global stocks rose early Tuesday as investors braced themselves for the consumer price index report later in the day. This report is expected to provide a critical outlook on the US.. economy, thereby providing an insight into the Federal Reserve’s next moves at its final policy meeting of the year on Wednesday.
In the U.S. futures on the Nasdaq 100 rose by 0.2% while those on the S&P 500 edged 0.1% higher. Across the pond, futures listed on the Euro Stoxx 50 also climbed by 0.1%, while in Asia, Hong Kong’s Hang Seng jumped 1.2% higher. Japan’s Topix slipped 0.2% lower while the Shanghai Composite gained 0.2%. Australia’s S&P/ASX 200 advanced by 0.5%.
The Bloomberg Spot Dollar index fell by 0.2%, with the US dollar losing ground against the British pound, which rose 0.2% to $1.2579. The Japanese yen rose 0.5% against the greenback to 145.42 per dollar while the offshore yuan rose 0.1% to 7.1869 per dollar. The euro remained relatively unchanged against the dollar at $1.0772, while the Australian dollar rose 0.3% to $0.6588 against its American counterpart.
