Global markets: SGX Nifty up; Asian shares fall ahead of US inflation data

here are the major global market Triggers that may guide the Indian stock market today ,

sgx nifty

SGX Nifty higher, trading at a premium of over 20 points to Nifty futures close, indicating a flat to positive start for the Indian stock market today.

asian stock

Asian shares edged higher after US markets traded in a narrow range ahead of inflation data that could signal whether the Federal Reserve will hike interest rates further.

US, European stocks

Equity markets in Europe rose after a long four-day Easter holiday, while the S&P 500 retreated minutes before the close and the Nasdaq slipped. Big US banks kicked off earnings season on Friday that is expected to show a decline in overall profits, even though the banks are considered undervalued after a selloff in March.

MSCI’s gauge of shares across the world rose 0.43%. The pan-European STOXX 600 index closed up 0.62% and Japan’s blue-chip Nikkei rose 1.05%.

On Wall Street, the Dow Jones Industrial Average closed down 0.29% and the S&P 500 essentially down 0.001%. The Nasdaq Composite dropped 0.43% after turning positive for most of the session.

Investors are eagerly awaiting US consumer prices data on Wednesday and producer prices data on Thursday. The consumer price index is expected to rise 0.4% on a monthly basis and 5.6% year-on-year in March, according to a Reuters poll of economists.

Core CPI is likely to fall to 5.0% before moving higher in September should the current path continue, as services prices rise further, Jonathan Golub, chief US equity strategist at Credit Suisse, said in a note.

china share

Shares in China were mixed at the open, with the Shanghai Composite index gaining 0.1%, while Hong Kong’s Hang Seng index dropped 0.02%. Tuesday’s data showed China’s consumer inflation in March was the slowest since September 2021.

Dollar

The dollar fell after a strong US jobs report for March showed a resilient labor market, raising hopes of another Fed rate hike. Friday’s data showed employers added 236,000 jobs, while the unemployment rate fell to 3.5%.

The dollar index fell 0.322%, the euro rose 0.49% to $1.0912 and the yen weakened 0.07% to 133.69 per dollar.

crypto

Bitcoin advanced for the fourth day, surpassing the key $30,000 level for the first time in 10 months before pulling back to $30,074.00. The digital token was stuck between around $26,500 and $29,400 over the past three weeks.

Oil

Oil climbed above $81 a barrel, as ahead of supply and demand estimates scheduled this week forecast a modest increase in US production.

US crude was up $1.79 at $81.53 a barrel, while Brent was up $1.43 at $85.61.