In Asian Equity Markets stocks rallied on Thursday, tracking overnight gains on Wall Street after weaker-than-expected U.S. inflation, while Singapore stocks lagged on concerns over slowing growth in the island state. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.0 percent in early Asia trade, driven by a 1.2 percent jump in resources-heavy Australia, a 1.4 percent gain in South Korea and a 1.2 percent advance in Hong Kong. Gains in Chinese shares were more subdued. Blue chips rose 0.5 perccent as new COVID-19 lockdowns in more Chinese cities, including the eastern export hub of Yiwu, dented sentiment.

In Currency Markets the euro and Japanese yen held onto most of their overnight gains on Thursday, having been boosted by U.S. inflation data coming in less hot than feared and sending the dollar tumbling. The European common currency was trading at $1.0285, with its 0.14 percent loss on the day, though it came after a 0.84 percent jump on Wednesday. Similarly, one dollar was worth 133.15 yen up 0.2 percent on Thursday. The Australian dollar was at $0.7066, down 0.2 percent after a 1.7 percent overnight gain, and sterling, was slightly softer at $1.2192.

In US Equity Markets stocks rose on Wednesday after U.S. inflation slowed more than expected in July and raised hopes the Fed will become less aggressive on interest rates hikes. The Dow rose 1.63 percent, to 33,309.51, while the S&P 500 gained 2.13 percent, to 4,210.24 and the Nasdaq Composite added 2.89 percent, to 12,854.81. Tesla Inc rose 3.9 percent after Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker to finance a potential deal for Twitter Inc if he loses a legal battle with the social media platform. Twitter gained 3.7 percent.

In Commodities Markets oil prices rose on Wednesday, rebounding from losses early in the session, helped by encouraging figures on U.S. gasoline demand and as lower-than-expected U.S. inflation data drove investors into riskier assets. Brent crude futures settled up 1.1 percent, to $97.40 a barrel, while U.S. West Texas Intermediate crude futures gained 1.6 percent, to $91.93. Spot gold was down 0.3 percent to $1,788.39 per ounce. Spot silver rose 0.2 percent to $20.53 per ounce, platinum was up 0.7 percent to $939.97 while palladium jumped 1.5 percent to $2,249.14.

In European Equity Markets stocks rose on Wednesday in a sharp reversal from earlier in the session with data showing a slower-than-expected rise in U.S. inflation last month providing some relief to investors. The pan-European STOXX 600 index jumped 0.9 percent, closing its best session in nearly two weeks. Ahold Delhaize gained 7.6 percent after the Dutch supermarket giant said it was postponing plans for an initial public offering of its non-food retailer, Bol.com, because of unfavourable market conditions.

In Bond Markets U.S. Treasury yields gave back most of an earlier decrease on Wednesday as investors evaluated how high the Federal Reserve is likely to raise rates when it meets in September, after data showed inflation gains stalled in July. Benchmark 10-year note yields fell as low as 2.67 percent, before bouncing back to 2.79 percent. Two-year note yields got as low as 3.08 percent, before rebounding to 3.22 percent. The yield curve between two-year and 10-year notes was at minus 43 basis points after earlier reaching minus 56 basis points, the deepest inversion since 2000.