Investors in Asia cautious on economic data from China and the USA

2023-08-07 05:06:04

Investors in Asian markets hunker down on Monday in anticipation of upcoming economic data from the US and China. The world’s two largest economies are due to report later this week: US consumer price data due on Wednesday is expected to show a slight rise in headline inflation to 3.3 percent yoy, while the more important core rate is 4.7 percent should decrease. “We now expect a soft landing for the US economy, rather than the mild recession we previously forecast,” wrote Michael Gapen, an economist at Bank of America (BofA).