Markets wager another rate hike at the next Fed meeting.
lost 0.02%. Data on Tuesday showed China's consumer inflation in March was at its slowest since September 2021.
"Investors are hopeful that Wednesday's inflation data could signal that the Federal Reserve was getting near the end of its rate hike cycle," said Harry Ottley, an economist at Commonwealth Bank of Australia, noting focus continues to shift from banking wobbles in March back to the inflation problem.
Minutes of its March meeting are due to be released later in the day and investors will parse through it for clues on the monetary path of the central bank as well as the impact of the banking stresses in March. Like other central banks, the Fed's hands are tied - a high inflation rate will prevent it from providing monetary stimulus in the coming months, Paolini said in a note.on Tuesday that lurking financial system vulnerabilities could erupt into a new crisis and slam global growth this year as it lowered its 2023 global growth forecasts.
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