In Asian Equity Markets stocks struggled to carry recent gains into a fourth straight session on Wednesday and the U.S. dollar steadied, as nagging doubts about inflation and the drag from rate rises crept back in to the global growth outlook. MSCI’s broadest index of Asia-Pacific shares outside Japan gave up earlier gains to trade around flat by mid-morning. Japan’s Nikkei rose 0.3 percent although miners did help Australian shares up about 0.7 percent. Australian shares rose for a fourth straight session on Wednesday. The benchmark S&P/ASX 200 index jumped 1.2 percent.

In Currency Markets overnight rises left the euro and pound sitting pretty in early Asia helped by good U.K. jobs data and a general improvement in investor sentiment on solid U.S. retail sales and hopes of easing lockdowns in China. The European common currency touched $1.0563 in early Asia trade, after rising 1.1 percent overnight, its largest day of percentage gains since March. Sterling touched $1.2501 after a 1.4 percent overnight rally. These gains pushed the dollar index, which measures the greenback against six peers, as low as 103.18 in early Asia, its lowest in nearly two weeks.

In US Equity Markets stocks finished sharply higher on Tuesday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth. The S&P 500 climbed 2.02 percent to end the session at 4,088.85 points. The Nasdaq gained 2.76 percent to 11,984.52 points, while Dow rose 1.34 percent to 32,654.59 points. United Airlines Holdings Inc gained 7.9 percent after the carrier lifted its current-quarter revenue forecast, boosting shares of Delta Air, American Airlines and Spirit Airlines.

In Commodities Markets gold fell on Tuesday pressured by robust U.S. retail sales data and expectations of aggressive interest rate hikes, although a pullback in the dollar limited losses. Spot gold fell 0.5 percent to $1,815.19 per ounce. Spot silver fell 0.4 percent to $21.52 per ounce. Platinum gained 0.2 percent to $947.50 and palladium was up 0.5 percent to $2,036.13 after rising as much as 3 percent earlier. Brent crude fell 2 percent, to settle at $111.93 a barrel, and U.S. West Texas Intermediate (WTI) crude fell 1.6 percent, to settle at $112.40 a barrel.

In European Equity Markets stocks ended higher on Tuesday, on hopes that demand in China could be sustained as authorities looked to relax COVID-19 restrictions as investors also welcomed upbeat earnings forecasts. The STOXX 600 index rose 1.2 percent, with a 3.2 percent jump in the mining sector leading gains. Banks and industrial stocks were also among sectors providing the biggest support. Daimler Truck Holding and Spain’s Caixabank rallied 6.5 and 5.2 percent respectively, on upbeat forecasts.

In Bond Markets U.S. Treasury yields rose on Tuesday after data showed that retail sales increased strongly in April, reducing fears that the American economy is likely to fall into recession as the Federal Reserve aggressively hikes interest rates. Benchmark 10-year Treasury yields hit a 3-1/2-year high of 3.203 percent on May 9 as investors adjusted for the prospect of the Fed continuing to hike rates at a fast pace as it tackles rising inflation. The yield curve between two-year and 10-year yields flattened two basis points to 29 basis points.

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