Markets Hold Firm Ahead of US Inflation Data Release

Global markets remain positive ahead of the U.S. Consumer Price Index (CPI) data release on Friday morning, which is expected to show steady headline annual inflation at 3.4 percent and a slight decrease in core component to 2.4 percent.

The crude oil price benchmarks have dropped more than 3 percent due to reports of potential talks on shipping through the Hormuz Strait, providing a boost to markets.

Rate hike expectations from the Federal Reserve (Fed) have softened from highs seen on Thursday, with the CME FedWatch tool showing a 69.4 percent likelihood of a quarter-percentage rate hike by the Fed on September 16, down from 72.4 percent the previous day.

Wall Street Futures are trading in positive territory, and major European benchmarks are also up, while Asian markets finished trading on a negative note.