London/Sydney — Global stocks ticked higher and the dollar slipped on Tuesday as a fall in US inflation and an improving outlook for China’s economy continued to cheer investors.
The dollar was last down 0.27% against Japan’s yen to ¥139.53, just above Thursday’s three-month low. Meanwhile, the euro was up 0.64% against the greenback to a more than four-month high of $1.039. Hong Kong’s Hang Seng index surged 4.11% overnight. In a remarkable bounce, the index is up nearly 25% for the month while China’s CSI 300 has gained 10% in that time.
With inflation and central bank policy still the main focus, investors eagerly awaited US producer price index figures due out later on Tuesday as well as a speech from Philadelphia Fed president Patrick Harker. Analysts cautioned that a strong PPI reading could sour the mood in still-fragile markets.
Data out Tuesday showed that the British unemployment rate rose in September. German business sentiment data was due at 10am GMT.
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