The upcoming CPI release is expected to influence expectations around the Federal Reserve’s rate path, especially after meeting minutes showed further hikes remain possible if inflation stays above target.

Oil recorded its strongest daily gain since October on reports that potential US military action against Iran could come sooner than expected. Fresh US sanctions on 18 Iranian officials added to regional tensions and supported energy prices.

The IMF urged China to prioritize a shift toward consumption-led growth, highlighting the need for structural reform as global conditions evolve.

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