(Updated at 0850 GMT)

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Polish economic growth beats forecasts

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Russian rouble continues to weaken

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Thai court dismisses PM Srettha over cabinet appointment

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Foreign investors buy net $7.91 bln of Asian bonds in July

By Lisa Pauline Mattackal

Aug 14 (Reuters) - Most emerging market currencies and

stock indexes rose on Wednesday ahead of key U.S. inflation

data, with hopes that easing price pressures would prompt bigger

interest rate cuts from the Federal Reserve and relieve pressure

on risk assets.

Data on Tuesday showed U.S. producer prices rose less than

expected in July, lifting hopes that consumer price data, due

later in the day, would also show moderating price pressures.

MSCI's index of emerging market stocks and the

broader EM currency index advanced 0.6% and

0.4%, respectively. The currency index is at its highest since

April 2022.

"Most interesting for international markets is, of course,

U.S. inflation," said Jens Magnusson, chief economist at SEB.

"The impression is that the Fed is becoming increasingly

satisfied with wage and inflation developments ... we now

believe that the Fed will cut interest rates by 100 basis points

this year."

As worries increased about an economic slowdown in the U.S.

affecting the global economy, markets have upped bets on the

chance of a 50-basis-point rate cut from the Federal Reserve at

its September meeting, now seeing a nearly 53% chance, according

to CME's FedWatch.

Meanwhile, Poland's second-quarter gross domestic product

(GDP) rose 3.2% on an annual basis, beating expectations, while

inflation accelerated in July to 4.2% year-on-year, and from

2.6% in June.

However, the Polish zloty slipped 0.1% against the

euro, as the common currency rose.

Russia's rouble continued its slide, falling to 91.7

per dollar, according to LSEG data, weighed by continuing

escalation following Ukraine's biggest attack on the Russian

territory since the start of the war.

However, the rouble picked off its lowest levels since

October touched on Tuesday.

A stronger euro also weighed on central and eastern European

currencies, with Hungary's forint retreating 0.2%

after four straight sessions of gains.

Romania's leu was flat versus the euro after a

flash GDP estimate for the second quarter came in at 0.8%, well

below forecasts.

Israeli stocks gained 1% as trade resumed after a

market holiday, despite heightened concerns over an escalating

conflict in the region.

Stocks in Prague, Warsaw and Istanbul

gained between 0.1% and 0.5%.

In Asia, the Thai baht edged 0.1% higher against

the dollar, while the country's main stock index fell

nearly 1%. Thailand's Constitutional Court dismissed Prime

Minister Srettha Thavisin for appointing to his cabinet a former

lawyer who served jail time, raising the spectre of more

political upheaval and a reset of the governing alliance.

Data showed overseas investors purchased a net $7.91 billion

worth of bonds from emerging Asian markets including Indonesia,

India and Malaysia.

HIGHLIGHTS:

** Chinese bonds rise after PBOC-backed media says risk

warnings are working

** India's July wholesale prices rise 2.04% year-on-year

** Shunning home markets, South Korean retailers pile-up on

US stocks

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see