US share futures fell slightly after Wall Street benchmarks closed higher on Thursday in a volatile session as investors await inflation data for clues on the Federal Reserve’s rate-hike campaign.
Japanese markets are under the spotlight, with data on Friday showing accelerating inflation as the government’s nominee to be the next central bank governor faced hisThe yen pared gains and swung to a small loss against the greenback as Kazuo Ueda told lawmakers he saw inflation peaking. He said the current policy easing was appropriate but added that the central bank could move toward normalisation if stable 2% inflation comes into sight.
A key US economic data awaits investors later on Friday in the form of personal consumption expenditures – the Fed’s preferred price gauge. It’s expected to show acceleration, adding to a string of unfavourable figures that bolster the case for the central bank to hold rates at 5.25% for some time, according to Bloomberg Economics’ Anna Wong. The current benchmark sits in a range between 4.5% and 4.75%.
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