SINGAPORE - Asian stocks rose on Tuesday, led by Japanese shares on the back of a steady yen, with traders awaiting data including the U.S. inflation report to gauge the Federal Reserve's policy outlook after volatile moves last week.
"While aftershocks might reveal vulnerabilities, we continue to view recent volatility as being an equivalent of a 'heart palpitation' not a 'cardiac arrest'," Viktor Shvets, head of global desk strategy at Macquarie Capital said in a note.However, investor sentiment remained fragile, with the yen last at 147.16 per dollar on Monday, having touched a seven-month high of 141.675 last week, a far cry from the 38-year lows of 161.96 it was rooted to at the start of July.
"Another wave of the yen-funded carry trade unwind will likely push the yen still somewhat higher towards year-end. Yet we do not expect USD-JPY to fall meaningfully below 140."Investors' focus this week will be on a slew of U.S. economic data that will help sharpen the view on the Federal Reserve's next moves, with markets now evenly split between a 25 basis points cut or 50 bps cut at the next meeting in September.Surprisingly soft payrolls data stoked U.S.
On Wednesday, U.S. consumer price index data for July is due and is expected to show that month-on-month inflation ticked up to 0.2%. Retail sales data is scheduled for Thursday. Trump Musk Interview Rambles Through Inflation, Taxes, Trade, Education and Nuclear Power The interview was broadcast some 40 minutes late after being beset by technical difficulty, and social media users were quick to point out that the former president sound as though he had a lispIn April 2016, Elon Musk invited Indians to preorder the upcoming Tesla Model 3. Vishal Gondal was one of the first to sign up, paying a $1,000 deposit for a car that never arrived.
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