In Asian Equity Markets stocks made slight gains across Asia on Wednesday while the euro hovered just above parity against the dollar as investors awaited a highly anticipated U.S. inflation report later in the global day. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.66 percent. Japan’s Nikkei was up 0.37 percent after losing nearly 2 percent the previous day. The CSI300 index rose 0.4 percent to 4,331.08 points at the end of the morning session, while the Shanghai Composite Index gained 0.4 percent to 3,293.29 points.

In Currency Markets the euro hovered a whisker above parity to the dollar on Wednesday, with traders wary of the single currency being forced to levels unseen for decades if U.S. inflation data, due to be released later in the global day, shows a sky-high reading. The euro languished at $1.0036. Weakness in the euro and yen has lifted the U.S. dollar index, which scaled a two-decade peak of 108.560 this week. The Australian dollar was steady at $0.6767, just above a two-year trough of $0.6712 made on Tuesday. The New Zealand dollar fell a fraction to $0.6131 – barely above Monday’s two-year low of $0.6098.

In US Equity Markets stocks ended in negative territory on Tuesday as growing signs of recession kept buyers out of the equities market ahead of inflation data. The Dow fell 0.62 percent, to 30,981.33, the S&P 500 lost 0.92 percent, to 3,818.8 and the Nasdaq Composite fell 0.95 percent, to 11,264.73. Shares of Boeing Co jumped 7.4 percent after the plane maker’s June aircraft deliveries hit the highest monthly level since March 2019. That news, along with falling energy prices, helped the S&P 1500 Air Lines index rise 6.1 percent.

In Commodities Markets global benchmark Brent crude lost $7 on Tuesday to settle below $100 a barrel for the first time in three months on a strengthening dollar, COVID-19 curbs in top crude importer China, and rising fears of a global economic slowdown. Brent crude futures settled 7.1 percent lower, at $99.49 a barrel, its lowest since April 11. U.S. WTI crude was down 7.9 percent, at $95.84, also the lowest in three month. Spot gold fell 0.5 percent to $1,724.80 per ounce. Spot silver fell nearly 1 percent to $18.90 per ounce, platinum fell 3.2 percent to $842.07 and palladium fell 6.2 percent to $2,028.16.

In European Equity Markets stocks rose on Tuesday led by beaten-down aerospace, luxury and travel stocks, although worries about an energy supply crunch and a potential global recession capped gains. The pan-European STOXX 600 index ended 0.5 percent higher after opening lower and breaking a three-day winning streak in the previous session. LVMH and L’Oreal rose 1.1 percent and 2.8 percent, respectively, while planemaker Airbus jumped 3.9 percent, helping the France’s CAC 40 climb 0.8 percent. Spanish blue chip index IBEX 35 closed 0.6 percent lower dragged by banks.

In Bond Markets the benchmark U.S. two-year/10-year yield curve on Tuesday posted the largest inversion since at least 2010, as investors fretted about the world’s largest economy tipping into recession amid continued aggressive tightening by the Federal Reserve. In early afternoon trading, U.S. benchmark 10-year yields were down 3 bps, at 2.957 percent. In other maturities, U.S. 30-year bond yields were down 4 bps at 3.139 percent. On the short end of the curve, U.S. two-year yields fell 2.3 bps to 3.045 percent.