Global Markets Await Critical Data Release

Global markets are taking a cautious stance ahead of the release of US inflation data for July. A mixed picture emerges in Asian markets, while US and European futures are trading near flat. The price of Brent crude oil approaching $90 per barrel is also increasing pressure on the markets.The US inflation data, which will determine the fate of the markets, is scheduled to be released at 15:30 Turkish time. It is expected that consumer prices will increase by 0.1% in July, and the annual inflation rate will decrease from 3.5% to 3.4%. The announced figures will provide decisive signals for the US Federal Reserve's interest rate path in the fall.There is no single direction of movement in Asian markets. The MSCI index, which tracks Asia-Pacific stocks excluding Japan, is up around 0.5%, while the Nikkei 225 index in Japan is trading near flat after the holiday. Limited gains are being recorded in Chinese mainland markets, while selling pressure is being felt in Hong Kong.The rise in Brent crude oil price by nearly 0.8% to $89.60, approaching the $90 threshold, has disrupted market calculations. Rising energy prices due to tensions in the Middle East and concerns over critical sea trade routes are strengthening expectations that inflation will remain resilient.This increase has brought back to the agenda the possibility of a rate hike, which had weakened after the release of weak US employment data last week. There are concerns that high oil costs and rising bond yields will create new pressure on global markets and technology stocks.