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Equity

Shares in Asia slipped in Tuesday morning trade, ahead of a closely watched meeting by the U.S. Federal Reserve set to kick off later in the day stateside.

Japan’s Nikkei 225 fell 0.59 percent . The Topix index also declined 0.64 percent. Over in South Korea, the Kospi shed 0.18 percent.

Meanwhile, Australia’s ASX 200 was 0.2 percent lower as the sectors mostly declined.

Overnight on Wall Street, the Dow Jones Industrial Average capped a four-session winning streak as it closed 65.23 points higher at 25,914.10. The S&P 500 finished its trading day 0.4 percent higher at 2,832.94, while the Nasdaq Composite also added 0.3 percent to close at 7,714.48.

Fed meeting on Tuesday

The moves came ahead of a two-day monetary policy meeting by the Fed, set to begin on Tuesday. Market expectations for a rate hike are at zero. However, investors will look for clues about the central bank’s economic outlook. The Fed had signaled it will be “patient” in raising rates at its previous meeting this year.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, stood at 96.513 after touching highs around 96.6 yesterday.

The Japanese yen traded at 111.31 against the dollar after seeing lows around 111.6 in the previous session. The Australian dollar fell to $0.7096 after touching a two-week high above $0.711 yesterday, when it was boosted by a weaker dollar and a rise in iron ore prices, among other factors.

Oil prices continued rising this week, supported by the prospect of prolonged OPEC-led supply curbs. Prices declined slightly in the morning of Asian trading hours, with the international benchmark Brent crude futures contract slipping 0.18 percent to $67.42 per barrel. U.S. crude futures also shed 0.17 percent to $58.99 per barrel.

Published by prashanti forex

Prashanti Forex is managed by a certified treasury professional with an experience of more than 15 years in Finance and Advisory Business. His expertise come from various organisations, where he has gained knowledge and deep understanding of financial environment. His Principle Objective is providing customised advise with excellent service, committing a relationship based on integrity, understanding, honesty and trust. We are glad to offer you a boutique of services which will enable your organisation to enhance the profitability and efficiently manage the business risks. Our Services are : Treasury & Risk Management Solutions Trade Finance Wealth Management

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