Tuesday’s Asian markets showed a mixed bag of outcomes after Wall Street’s lackluster showing. The Federal Reserve’s projected 2023 interest rate reductions have been tempered by profit-taking, and traders are now waiting for important US inflation data expected later this week. There is hope that the US central bank has raised borrowing costs for the final time this cycle due to several indications that have emerged in recent months that indicate a slowing economy and a rise in consumer prices that is lower than expected.
Analysts are worried that the findings might point to future weakening, though. Apart from the Fed‘s favored inflation barometer, the personal consumption expenditures (PCE) price index, investors will also be watching consumer confidence and the gross domestic product this week. Jerome Powell is among the central bank officials who are slated to speak. However, it is anticipated that they will stick to their long-standing positions that data will guide policy decisions and that rates will stay higher for longer in order to completely contain inflation.