[ad_1]
NEW YORK (Reuters) – Asian stocks looked set to rise on Wednesday, rebounding from a strong sell-off on Tuesday, while Australian stocks saw a weaker opening on a catch after Tuesday’s leave.
Higher markets in Europe and a slight dip from record US inventory levels overnight suggested that investors were wary of possible obstacles to a US stimulus package and ahead of the announcement of the policy. Federal Reserve.
All eyes are on Australian inflation figures due for release later Wednesday, said Steven Daghlian, market analyst at CommSec in Sydney, who noted stocks and the Australian dollar were “in tears.” Australian stocks hit an 11-month high on Monday, “close to pre-COVID levels,” he said.
The US Federal Reserve is due to announce the results of its two-day political meeting on Wednesday. Analysts expect the Fed to stick to its easygoing tone to help accelerate the economic recovery.
U.S. stimulus talks are the center of attention, with U.S. Senate Majority Leader Chuck Schumer saying Democrats will move forward with President Joe Biden’s coronavirus relief plan without Republican support if necessary.
European stocks rose on Tuesday, as strong earnings from wealth manager UBS and auto parts maker Autoliv added to a string of bullish business updates, while the International Monetary Fund raised its forecast for global growth by 2021.
Yields on U.S. Treasuries were mostly lower in volatile overnight trading, after hitting a three-week low on the long end of the curve as investors remained cautious about the size of the curve. ‘a proposed American stimulus plan.
The benchmark 10-year notes were down 1.033%, against 1.04% on Tuesday night.
Australian S & P / ASX 200 futures fell 0.25% early in trading.
Japanese Nikkei 225 futures added 0.07%, while the Nikkei 225 index closed the session overnight%. Hong Kong Hang Seng Index futures rose 0.68%.
E-mini futures for the S&P 500 rose 0.21%.
The Australian dollar rose 0.05% against the greenback to $ 0.775.
The US dollar fell slightly overall as traders showed a preference for riskier currencies. The dollar index was down 0.194%, the euro up 0.02% to $ 1.2162.
The Japanese Yen weakened 0.01% against the greenback to 103.61 per dollar, while the British pound last traded at $ 1.3735, up 0.01% on the day.
Reporting by Alwyn Scott; Editing by Lisa Shumaker
Source link
