Asian shares got off to a cautious start on Monday as markets count down to a likely cut in U.S. interest rates this week with much riding on ...
SYDNEY: Asian shares got off to a cautious start on Monday as markets count down to a likely cut in U.S. interest rates this week with much riding on whether or not the Federal Reserve signals yet more are in the pipeline.
"We remain cautiously optimistic that both sides can agree on a narrow agreement that addresses important trade-related issues, such as U.S. demands to increase exports," said analysts at Barclays in a note. MSCI's broadest index of Asia-Pacific shares outside Japan was all but flat in slow trade. Japan's Nikkei dipped 0.1per cent and E-Mini futures for the S&P 500 lost 0.06per cent.Interest rate futures are fully priced for a quarter-point rate cut from the Fed on Wednesday, with only a small chance of a half-point move.
"The messaging will be key and will help markets determine whether the rate cut is just an"insurance cut", or the Fed is embarking on a full easing cycle as the market currently prices in," said Tapas Strickland, director of economics at NAB.
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