The Consumer Price Index (CPI) is expected to show a year-on-year increase to 3.4% in March from 3.2% in February. A weaker-than-expected inflation number could strengthen the case for a June cut.

The FTSE 100 was up 0.5% this morning. In corporate news, Tesco reported a 4.4% increase in revenue and a significant rise in pretax profit, announcing a new £1 billion share buyback program and an 11% dividend increase.

Direct Line Insurance appointed Jane Poole as its new CFO, while Vistry Group secured contracts for housing developments in Birmingham and Northamptonshire.

THG saw a decline in revenue but a narrowed pretax loss, and National Air Traffic Services appointed Warren East as non-executive chair. In Asia, markets were mixed, with the Nikkei 225 and Shanghai Composite down, while the Hang Seng index rose.

Oil prices dipped slightly, with Brent crude trading lower, amid hopes for a ceasefire in the Middle East. Gold prices increased, hitting a new record high before pulling back. Investors are also anticipating the release of the latest Fed minutes and tomorrow's European Central Bank's policy decision. The pound and euro saw slight movements against the dollar, while the dollar-yen exchange rate showed a modest increase. 

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