Dollar cedes ground, Asia stocks mixed as Fed looms large

FILE PHOTO: People walk on an overpass with a display of stock information in front of buildings in the Lujiazui financial district in Shanghai, China August 6, 2024. REUTERS/Nicoco Chan/File PhotoTOKYO : The dollar ceded some of its overnight gains on Wednesday while Asian stocks put in a mixed display as traders weighed the odds of a super-sized Federal Reserve interest rate cut later in the day.

Mainland Chinese blue chips opened flat after coming back online following a holiday-extended weekend, and Taiwan also returned from a day off to trade 0.35 per cent weaker. Australia's benchmark was little changed.Hong Kong and South Korea were among major markets closed for holidays. "If the Fed nails it at this meeting, the bull market could charge on. If it doesn't, then it could signal a high water mark in this cycle."

Gold found its feet, rising 0.15 per cent to $2,573.18 per ounce after slipping back from an all-time high in the previous session.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US stocks mixed, dollar weak on rate cut expectationsNEW YORK/LONDON :Major stock indexes were mixed at the New York open on Monday and the dollar stayed soft against its global peers as all eyes looked to a Federal Reserve meeting later this week that is expected to usher in a hotly-anticipated easing cycle.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Singapore stock market poised for boost as Fed readies rate cutThe roller coaster ride of global markets, triggered by the US central bank's rate hikes beginning in March 2022, may soon come to an end
Source: IndependentSG - 🏆 2. / 72 Read more »