Global Markets Tense Awaiting US Economic Data Breakthrough

Global markets, stirred by the 'Trump trades' phenomena, await crucial U.S. economic data. The dollar's rise and Treasury yields spike have traders prepping for potential rate cut reevaluations. The focus is on U.S. CPI data and upcoming remarks from Fed Chair Jay Powell and other central bank figures.

Global markets are bracing for significant shifts as traders focus on impending U.S. economic data amidst the 'Trump trades' environment.

The dollar has seen a significant rise and Treasury yields have soared since the U.S. elections, prompting traders to recalibrate their rate cut expectations. Today's U.S. CPI data release could further influence these projections.

Fed Chair Jay Powell's upcoming comments will further guide market sentiment, alongside anticipated updates from other key central bank figures. The broader market showcases instability, with notable declines across major Asian and European equity indices.

(With inputs from agencies.)