But while the immediate risk of a flare-up in tensions over Ukraine waned, some market watchers warned that save-haven assets could find a renewed bid in the case of new escalations over the conflict.
"News flow can still shift rapidly, and I suspect there'll be more twists and turns that suggest geopolitical hedges – long crude, gold, volatility, and short risk - can make a comeback," he wrote in a note.On Tuesday, U.S. President Joe Biden warned that more than 150,000 Russian troops remained near Ukraine's border, while Kyiv said the online networks of its defence ministry and two banks were hit by what is called a distributed denial-of-service.
China's factory-gate and consumer price inflation both came in lower than expected in January, data on Wednesday showed, which some analysts believe could provide room for the country's central bank to ease policy to support the economy.
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