Stocks dip, dollar steadies as investors seek rates clarity

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Most Asian stocks fell on Tuesday, while the U.S. dollar and oil steadied, as investors held safe ranges awaiting more clues on whether central banks will continue their aggressive interest rate hikes.

U.S. S&P 500 E-mini stock futures slipped 0.1% in Asian trade. Wall Street stock indexes ended Monday's shortened sessionIn coming days, investors are watching out for a mixed bag of economic data ahead of second-quarter earnings, while uncertainty remains over the Federal Reserve's policy path, said Manishi Raychaudhuri, head of Asia Pacific equity research at BNP Paribas.

The minutes from the Fed's last meeting are due later this week, which could provide additional clues on policy direction but also inject some volatility, he said. "If the Fed overtightens and decides to do more rate hikes than twice as the market widely expected, then there's a concern that the recession may turn out to be deeper than what is being factored in," Raychaudhuri said.on minerals adding more uncertainty around global trade relations.

In the currency market, the dollar index , which tracks the greenback against six major peers, rose slightly to 102.97.

 

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