Stocks inch lower, dollar firm as Fed focus intensifies; crypto soars

FILE PHOTO: Pedestrians walk past an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar outside a brokerage in Tokyo, Japan March 28, 2024. REUTERS/Kim Kyung-Hoon/File PhotoTOKYO : Asian stocks drifted lower while the dollar held firm on Tuesday as investors awaited minutes of the Federal Reserve's latest policy meeting to gauge the timing and extent of possible interest rate cuts this year.

Cryptocurrencies ether and bitcoin climbed to new six-week highs amid speculation that the U.S. Securities and Exchange Commission may approve a spot ether exchange-traded fund . Even so, Fed officials are reluctant to declare inflation is coming under control, with Vice Chair Philip Jefferson saying on Monday that it was too early to tell if the slowdown is"long lasting," and Vice Chair Michael Barr saying restrictive policy needs more time.

Nasdaq futures inched 0.1 per cent lower after the cash index climbed 0.65 per cent overnight to close at an all-time high. S&P 500 futures were flat after Monday's 0.1 per cent gain. Gold eased 0.2 per cent to about $2,420 per ounce, after pushing to the cusp of $2,450 for the first time overnight. Brent crude futures declined 12 cents, or 0.1 per cent, to $83.34 a barrel, while U.S. West Texas Intermediate crude eased 8 cents, or 0.1 per cent, to $79.72 a barrel.

Loans Loans Latest News, Loans Loans Headlines

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

Foreigners sold Asian bonds in April amid firm dollar, Fed uncertaintyForeign investors were net sellers of Asian bonds for a second straight month in April as a strong U.S. dollar and uncertainties around the Federal Reserve's interest rate cuts dampened appetite.Investors net sold bonds worth $1.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Dollar dips as Fed cites disappointing inflation, but keeps focus on cutsNEW YORK: The dollar fell on Wednesday (May 1) after the US Federal Reserve signalled it is still leaning toward eventual reductions in borrowing costs, but repeated that it wants to gain "greater confidence" that inflation will continue to fall before cutting rates.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »