Market participants believe Beijing is striking a delicate balancing act to support the economy. Signs of persistent deflationary pressure calls for more stimulus measures as fast falling prices have raised real borrowing costs, but aggressive monetary easing could revive depreciation pressure on the Chinese currency and trigger capital outflows.
Markets were now awaiting more cues on U.S. interest rates after largely dialing back expectations for early rate cuts by the Federal Reserve, following a string of robust economic readings and hawkish comments from Fed officials.
Israeli Prime Minister Benjamin Netanyahu rejected Hamas’ latest offer for a ceasefire and return of hostages held in the Gaza Strip, but U.S. Secretary of State Antony Blinken said there was still room for negotiation toward an agreement.
Scammers targeting institutions such as hospitals, schools and government offices for ransom pocketed $1.1 billion last year, compared with $567 million in 2022.
Gold prices fell within a holding pattern after robust U.S. economic data and a chorus of hawkish Federal Reserve comments saw markets largely price out expectations for early interest rate cuts this year.
