Forex
Asia Markets Reel as US Inflation Data Offers Glimmer of Hope
Asian stocks mostly fell on Friday, while US futures remained relatively unchanged after a report showed better-than-expected inflation data in July.
The US wholesale price index rose 4.7% year-over-year, which is less severe than June's 5.5% rate but still higher than desired.
According to Stephen Innes of SPI Asset Management, the market has 'steadily stripped away the case for another near-term Fed hike' due to disinflationary trends and a decline in oil prices.