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Asian stock markets largely advanced, buoyed by cool U.S. CPI data, even as investors navigated concerns over weak Chinese GDP figures and ongoing conflict risks involving Iran.
The U.S. Senate confirmed Kevin Warsh, a pick by President Trump, to the Federal Reserve Board of Governors in a close vote. His confirmation positions him as a potential candidate for the Fed chair.
US inflation slowed to 3.5% in June, a larger-than-expected decline attributed partly to easing energy prices and a brief US-Iran peace deal. This cooling inflation has reduced immediate pressure on the Federal Reserve for further interest rate hikes, though the option remains open.
This week's market watch focuses on upcoming inflation readings, potential oil price volatility, and the release of airline earnings reports, providing key economic indicators.
US consumer prices increased as expected in May, with the Consumer Price Index (CPI) rising by 4.2%, marking the highest increase in three years.
Ethereum's price held steady near $2,000 after the February U.S. Consumer Price Index (CPI) report came in neutral, impacting cryptocurrency markets.