Premarket: Stocks struggle on unease about higher bond yields as focus turns to U.S. inflation

World stocks dropped for a second successive day on Wednesday, jolted by another push higher in U.S. Treasury yields ahead of inflation data that could inform the pace of Federal Reserve policy easing.

But, analysts say, there is more to come as the Republicans sit within striking distance of winning a majority in the House of Representatives and with it full control of Congress A hot reading of the U.S. consumer price index due at 1330 GMT could see those odds reduced further, with economists projecting a 0.3% monthly rise in the core gauge.

The euro was last $1.0609, down 0.14% on the day at around its lowest in a year, and the Japanese yen was also weaker, at 155.04 per dollar, a level that could push Japanese authorities to step in to prevent their currency weakening further. The People’s Bank of China pulled the yuan off a three-month low versus the dollar by setting a firmer-than-expected official guidance for the exchange rate, signalling growing discomfort over the currency’s recent rapid decline.

Crude oil rebounded a touch after hitting to its lowest in two weeks on Tuesday after OPEC cut its forecast for global oil demand growth this year and next, highlighting weakness in China and some other regions.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Premarket: European stocks steady after Wall Street record, oil prices slumpChina stocks tumble on government borrowing report
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks slide in reality check from big cap earningsGreenback gains as investors banked on a more moderate decline in U.S. interest rates
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: U.S. futures rise as chip stocks rally after TSMC results; economic data in focusEuropean stocks gain, euro weak ahead of ECB, ‘Trump trade’ lifts U.S. dollar
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks up after China shares rally, gold at all-time highOil prices are headed for their biggest weekly loss in more than a month
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Tepid start to week for world stocks, but gold, bitcoin shineTrump trades continue to gain momentum
Source: globeandmail - 🏆 5. / 92 Read more »