The U.S. dollar rallied to a one-week high against the Japanese yen after inflation data exceeded expectations, raising concerns about delayed Federal Reserve rate cuts. Global stock markets showed mixed reactions, with the S&P 500 closing lower on Wednesday but futures indicating modest gains on Thursday.
In Asia, Indian markets showed resilience, with the Nifty recovering 250 points from its intraday low. Prime Minister Modi’s diplomatic visit to the U.S. is being closely watched for potential strategic outcomes. Australian markets opened slightly higher, while futures for Japanese and Hong Kong indices rose.
The euro gained support from news of potential U.S.-Russia peace talks regarding Ukraine, and gold prices edged higher as investors monitored trade tensions and awaited further inflation data.
