LONDON, July 11 Reuters Global shares rose and the dollar eased on Tuesday ahead of U.S. inflation data that could support a quicker end to Federal Reserve rate hikes, while the prospect of China propping up economic growth helped lift commodities like oil and copper.

Markets are awaiting U.S. inflation data on Wednesday to see if price pressures are continuing to moderate, which could provide clues on the interest rate outlook.

The MSCI AllWorld index rose 0.3, lifted by gains in European shares, as the STOXX 600 rose 0.35 in early trading, and by Chinese equities in Asia, following the extension of support to the property sector.

U.S. stock index futures , rose 0.10.2, suggesting a modest rise at the opening bell.

Investors were digesting comments from several Federal Reserve officials on Monday who said the level of inflation warranted additional rate hikes but the central bank is nearing the end of its current monetary policy tightening cycle.

Economists polled by Reuters expect the consumer price index to have risen by 3.1 in June, after May39;s 4 increase. This would be the lowest reading since March 2021. The core rate is expected to have dropped for a third month to 5 from 5.3, but this is still more than double the Fed39;s 2 target.

Last week39;s employment report showed far fewer workers than expected had been added to nonfarm payrolls last month unleashed a wave of selling of the U.S. dollar, but did little to shift the needle in terms of rate…