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Asia stocks set to dip ahead of Fed interest rate decision

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The Fed is largely expected to slash interest rates by 25 basis points later this week. That would mark its third rate cut for this year.

Stocks in Asia were set to dip at the open on Wednesday ahead of the U.S. Federal Reserve's interest rate decision, set to be announced later on Wednesday stateside.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 22,930, while its counterpart in Osaka was at 22,920. That compared against theMeanwhile, Australian shares slipped in early trade as theslipped about 0.3%. Investors will watch for the release of the Consumer Price Index for the third quarter, set to be out at around 8:30 a.m. HK/SIN.which tracks the greenback against a basket of its peers was last at 97.690 after scaling highs above 97.

"With Fed fund futures showing a 94% chance of a cut, the performance of the dollar confirms that investors expect this to be the central bank's last move of the year," Kathy Lien, managing director of foreign exchange strategy at BK Asset Management, wrote in an overnight note.that the phase one trade deal may not be signed at a November summit in Chile. The report, however, cited a U.S.

 

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Why dip ? Fed will cut the rate

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