A batch of Chinese and U.S. economic data helped underpin global stocks near record highs on Friday, as investors priced in a solid global recovery from the coronavirus-induced slump.
Gold was down on Wednesday morning in Asia, as investors continue to digest a higher-than-expected rise in U.S. inflation.
The dollar fell to multi-week lows against the euro and the yen on Wednesday, after an uptick in a U.S. consumer price gauge did not spark wider fears about accelerating inflation and the Federal Reserve’s tapering, pushing down U.S. bond yields.
Oil prices rose in early trade on Wednesday, adding to overnight gains, after industry data showed U.S. oil inventories declined more than expected and OPEC raised its outlook for oil demand.
The S&P 500 added to gains to hit fresh record highs on Tuesday, shrugging off a vaccine setback as reopening stocks cut some losses and tech rallied.
Global equity markets rose to a fresh record high on Wednesday as bond yields eased after data showed U.S. inflation was not rising wildly.