Premarket: World stocks edge higher before Fed, yen intervention alarms flare

📆 1/11/2023 5:48 pm
📰 globeandmail

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The U.S. Federal Reserve is widely expected to hold interest rates unchanged in its policy decision, due later in the day

from the Federal Reserve later in the day, while the yen was stuck near one-year lows against the dollar as Tokyo ramped up intervention warnings.

Comments from Fed Chair Jerome Powell will be scrutinized to gauge where interest rates are headed and how long they will stay higher. U.S. stocks looked set for a shakier start on Wednesday, with S&P e-mini futures, NASDAQ futures and DOW futures all down around 0.21%. “Or if this is a new regime of higher real interest rates,” Irigoyen said. “And I think that I am more on the camp of the second option.”Market focus in Asia was firmly on the yen in the wake of the Bank of Japan’s decision to tweak its bond yield control policy again on Tuesday, further loosening its grip on long-term interest rates.

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