The U.S. Consumer Price Index (CPI) due on Thursday could greatly influence the Federal Reserve's thinking, and the dollar remains steady while gold remains flat after reaching an eight-month peak.
Copper and Crude Oil Prices Climb in Response to Chinese Demand
Copper prices hit above $9,000 a tonne for the first time since June, as hopes of a rebound in Chinese demand after the country lifted COVID-19 restrictions drive up prices. Similarly, crude oil prices also rose after overcoming early losses.
Equities Rise in Europe and Asia as Investors Bet on Shallow Economic Recession
The MSCI all-country stock index was up 0.16%, continuing the year's gain of nearly 3%. Investors hope to avoid a repeat of last year's market rout and anticipate a shallow or even avoided economic recession. The STOXX index of 600 companies in Europe rose 0.5% to levels last seen in the middle of 2022. In Asia, the MSCI index of Asia-Pacific shares outside Japan also rose by 0.2%, and Japan's Nikkei index gained 1%.