Asian Stock Market: Virus woes test bulls, US inflation in focus

Also positive for the markets were downbeat inflation data from China and firmer second-tier employment figures from Australia. It should be noted, however, that anxiety ahead of the US Consumer Price Index for December joins coronavirus-linked updates to challenge the investors.drops by around 1.0% heading into Wednesday’s European session.

Furthermore, Australia's Job Vacancies for three months to November jumped past -9.8% prior to 18.5% QoQ during early Asia. On Tuesday, Wall Street cheered Fed Chair Jerome Powell’s measured Testimony that showed readiness to hike interest rates but remained cautious over balance sheet normalization. Fed’s Powell also expected that the supply crunch will ease somewhat and the economic impact of the Omicron variant will be short-lived.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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