Asian stocks erased earlier gains amid cautious trading before quarter-end and the release of the Federal Reserve’s preferred inflation measure later this week.
There are plenty of reasons for investors to be cautious given the number of risk events in coming days. The US government will publish its personal consumption expenditures price index on Good Friday when local markets will be closed. Fed Chair Jerome Powell is due to speak on the same day. “Intervention will really depend on when we get through big levels,” he said on Bloomberg Television. “You’d imagine that once we start breaking through big levels such as 155 or 160 for instance, you’d see more of an aggressive stance from the Japanese authorities.”
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