SYDNEY : Asian shares staged a cautious bounce on Wednesday with hopes a global banking crisis would be averted vying with uncertainty over the outlook for U.S. interest rates as the Federal Reserve holds a high-stakes meeting on policy.Efforts by U.S. Treasury Secretary Janet Yellen to calm nerves seemed
SYDNEY : Asian shares staged a cautious bounce on Wednesday with hopes a global banking crisis would be averted vying with uncertainty over the outlook for U.S. interest rates as the Federal Reserve holds a high-stakes meeting on policy.
The unease left both S&P 500 futures and Nasdaq futures barely changed. EUROSTOXX 50 futures edged up 0.2 per cent, while FTSE futures rose 0.1 per cent. All of which puts the Fed in a tough position as it decides whether to raise interest rates later today. Analysts at JPMorgan, on the other hand, stand with the majority and flag a rise of 25 basis points in part because postponing a move until May would threaten the Fed's inflation-fighting credibility.
How Fed Chair Jerome Powell navigates all this in his 1830 GMT news conference could well determine the course of markets for the rest of the week. That jump helped lift the euro to a five-week high of $1.0789 overnight, and it was last holding firm at $1.0770.
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