Forex Marketz Daily Forex News – Fully Markets Update
Most of the Asian equity markets where higher this morning. Asian investors are waiting on the US Federal Reserve’s policy meeting for this month. The investors wait on clues from the central bank on the direction of its monetary policy.
Japan’s Nikkei 225 was up 1.44 percent. The Japanese markets resumed trade following a public holiday. Exporters, investing firms and retailers recorded gains. The US dollar held onto gains against the yen.
The South Korean Kospi Composite index lost 0.08 percent. Tech stocks gave up some of their gains made yesterday. Samsung Electronics lost 0.99 percent after hitting a record high yesterday.
In Australia, the S&P ASX 200 rose 0.13 percent. The heavily-weighted financials sub-index rose 0.37 percent. Gold plays lost ground as the price of the yellow metal was trading near its lowest level in more than two weeks.
Chinese markets were mixed. The Hang Seng Index lost 0.27 percent. Gains on the mainland were subdued. The Shanghai Composite rose a tepid 0.09 percent and the Shenzhen Composite was up just 0.085 percent.
Asian Investors wait on Today’s Fed Meeting to Begin
Asian investors are now waiting on the Federal Reserve as the Federal Open Market Committee (FOMC) begins a two-day policy meeting later today. The US central bank is expected to leave interest rates unchanged when it announces its decision tomorrow afternoon, local time. However, investors are awaiting for any details on the Fed’s reduction of its $3.7 trillion in Treasuries and mortgage-backed securities on its bloated balance sheet. The Fed bought these assets during the financial crisis.
This morning, the US dollar held onto gains after inching higher overnight. The almighty buck is trading near an eight week high.
