Global Financial Markets Poised Ahead of Key Economic Data

Global markets reacted cautiously ahead of the third-quarter US GDP data release. European shares mostly gained, with Germany's DAX rising slightly. In Asia, the yen fluctuated following intervention warnings. Wall Street anticipates steady interest rates despite persistent inflation. Oil prices edged up amid geopolitical tensions.

Global financial markets saw cautious gains on Tuesday in holiday-affected trading sessions as investors braced for significant economic data from the US. The forthcoming gross domestic product (GDP) reports will provide insight into the state of the US economy during the third quarter of the year.

European indices reflected mixed sentiments ahead of the holiday. Germany's DAX rose slightly by 0.1%, while France's CAC 40 witnessed a minor dip. The UK's FTSE 100 gained marginally, maintaining its upward trajectory. Gold prices continued their upward trend, touching new records, while oil prices also inched higher amid geopolitical tensions.

In Asia, trading remained subdued with fluctuations in the yen following intervention warnings by Tokyo officials. While Wall Street anticipates the Federal Reserve to maintain its interest rates despite ongoing high inflation, oil prices continued to climb, suggesting underlying market anxieties.

(With inputs from agencies.)