Help
Asian stocks mostly higher
Japan's Nikkei up 3% after last week's sharp drop.
China: Upcoming data release on Thursday adds slight pressure to risk sentiment.
US CPI: Focus on Wednesday's CPI; markets divided on potential rate cut in September.
Commodities: Gold hit $2,477 amid geopolitical tensions; oil prices near weekly highs.
Asia
Asian stocks are trading mostly higher, with gains in Japan as traders return from a long weekend. Japan's Nikkei rose 3% continuing its up streak after last week’s more than 10% drop.
However, uncertainty from China’s data due on Thursday weighed a tad on risk sentiment.
US CPI
This week’s focus is firmly on the consumer price index (CPI) inflation data, set to be released on Wednesday, for further insights into the economy and signs of cooling inflation.
The CPI reading is anticipated to remain the same in July compared to the previous month at 3%. While the Core monthly figure is anticipated to have slightly increased to 0.2% vs 0.1%.
Markets are divided on whether there will be a 25 or 50 basis point rate cut in September, with Wednesday’s inflation data expected to provide further clarity on the potential reduction.
The VIX, Wall Street's fear gauge, which spiked to 65 last Monday during the market turmoil, fell below 20 yesterday.
Commodities
Gold prices continued to trend higher on the backdrop of geopolitical concerns, touching its monthly high of $2,477.
Oil prices were hovering near weekly highs, with WTI close to $78 and Brent near $81, buoyed by tensions in the middle east and supply concerns.
