Global Markets Await US Inflation Data Amid Geopolitical Risks

15:47 - 12.08.2026


August 12, Fineko/abc.az. Ahead of the US Consumer Price Index (CPI) release, global markets adopted a cautious stance. Rising oil prices driven by ongoing uncertainty over the Strait of Hormuz exerted pressure on equity markets.

US crude oil closed around $83 per barrel, while the S&P 500 continued its pullback from record highs.

Key Market Highlights:

  • Tech & AI Rally: Strong financial results from CoreWeave (+16%) and Super Micro Computer (+7.6%) pushed Nasdaq 100 futures up by 0.3%.

  • Asian Equities: South Korea's Kospi index surged 4%, driven by ~7% gains in Samsung Electronics and SK Hynix. The broader MSCI Asia Pacific index rose 0.7%.

  • Gold & FX: Gold prices rose up to 1.1%, surpassing $4,400 per ounce. USD/TRY traded at 47.76.

Analysts expect US annual CPI inflation to moderate slightly to 3.4% in July (down from 3.5% in June). A slowdown in core inflation could reinforce expectations that the Federal Reserve will hold interest rates steady at its September meeting.