-- Asian stocks are set to track US peers higher as the Federal Reserve’s cautious outlook on interest rates did little to alter Wall Street’s bets on cuts.Futures on equity benchmarks in Australia, Japan and Hong Kong pointed to markets opening higher on Thursday. Contracts on the S&P 500 rose in early Asian trading after the US benchmark topped 5,400 for the first time in its history, with Wednesday marking the 20-month anniversary of the bull market.
Meanwhile, the Bank of Japan starts its two-day policy meeting with a decision due on Friday. While authorities are expected to keep rates on hold, they are widely seen to consider reducing bond purchases.The change in the Fed rate outlook showed up most in Treasuries and the dollar. The policy-sensitive two-year pared its yield drop by about half to eight basis points. A gauge of the greenback’s strength traded steady Thursday after falling 0.2% in its previous session.
Powell said the officials welcomed the latest inflation figures, adding that he hopes for more reports like that. He said Wednesday’s figures had helped build their confidence on the trajectory of inflation but not enough to warrant rate cuts at this time. New York Fed President John Williams moderates a discussion with Treasury Secretary Janet Yellen, ThursdayChicago Fed President Austan Goolsbee speaks, FridayThe Bloomberg Dollar Spot Index was little changedThe offshore yuan was little changed at 7.2616 per dollarSpot gold fell 0.1% to $2,322.02 an ounceThis 8.1% Dividend Stock Pays Cash Every Month
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