Asian Markets Open Lower as Investors Await Fed’s Interest Rate Decision

Asian Markets Open Lower as Investors Look to Future of Interest Rates

By Reuters

Asian markets started the day on a lower note on Tuesday, following little change in US stocks. Investors are now turning their attention to the future of interest rates.

At 10:10 AM AEST (00:10 GMT), the index was down 0.2% in flat trading, while the index fell 0.8% and rose 0.1%.

During the US trading session on Monday, there was minimal movement. Shares of Australian majors BHP, Group Ltd ADR, and Rio Tinto ADR fell 3.3%, while Tesla Inc and Apple Inc both experienced a 3.3% decline. However, NASDAQ rose 1.7% and Amazon.com Inc fell 0.3%.

In the cryptocurrency market, Bitcoin saw a slight increase while Ethereum slightly fell. Bitcoin rose 1.2% to briefly exceed $27,000, while Treasury yields fell 3 basis points to 4.30%.

Market traders are expecting the Federal Reserve to maintain its interest rate range of 5.25% to 5.5% during its meeting on Wednesday. The likelihood of another pause in November stands at 70.3%, based on the available data.

JPMorgan strategists have pointed out a clear discrepancy between recent rate hikes in Europe and the Fed’s decision to pause. The Bank of Canada and the Reserve Bank of Australia have also shown similar patterns. Additionally, strategists have highlighted the mixed signals given by central banks regarding their stance on interest rate hikes. “It’s been high for a long time,” they noted.

Apple Inc’s recent rally in the tech sector has brought stability. Wedbush, a securities company, reported stronger-than-expected pre-orders for the new iPhone 15, boosting confidence in the sale of the latest iPhone models.

Meanwhile, Arm Holdings ADR witnessed a significant drop, with stocks falling as much as 9.4% on the third day of trading. Analyst Sara Russo suggests that despite benefiting from the growth of AI, it is still too early to declare Arm Holdings as winners in this field.

Today’s agenda includes important announcements such as the Eurozone’s updates.

In commodities, Citigroup analysts predict that international geopolitical events along with technical trading could briefly push prices past $100. However, they also foresee a continuous downturn in demand. On another note, prices for agricultural products have risen for the third consecutive day due to extreme heat in Brazil, posing a risk to the next crop. Additionally, Brazil’s strong currency has reduced export demand from buyers.

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© Reuters.

Investing.com – Asian markets opened lower on Tuesday. After US stocks Little has changed. Investors are turning their attention to the future of interest rates.

At 10:10 AM AEST (00:10 GMT) it was down 0.2% in flat trading. Meanwhile, the index fell 0.8% and rose 0.1%.

During the US trading session on Monday, there was little change. Shares of Australian majors BHP (ASX: ), Group Ltd ADR (NYSE: ) and Rio Tinto ADR (NYSE: ) fell 3.3%, while shares of Tesla Inc (NASDAQ: ) fell 3.3%, while Apple Inc (NASDAQ: ) fell 3.3% . NASDAQ:) rose 1.7% and Amazon.com Inc (NASDAQ:) fell 0.3%.

it rose slightly while falling slightly, rising 1.2% to briefly exceed $27,000. Treasury yields fell 3 percentage points to 4.30%.

Market traders expect the Federal Reserve to maintain its range at 5.25% to 5.5% during its meeting on Wednesday. Another pause in November is expected to be around 70.3%, according to the data.

JPMorgan (NYSE: ) strategists note a clear discrepancy between Europe’s recent rate hikes and the Fed’s pause. This is consistent with previous decisions by the Bank of Canada and the Reserve Bank of Australia. Strategists also stressed the central bank’s mixed advice that it would stop raising interest rates. “It’s been high for a long time.”

Apple Inc’s (NASDAQ:) rally is bringing the tech sector back to stability. Securities company Wedbush noted that pre-orders for the new iPhone 15 were stronger than expected. As a result, confidence in selling new iPhone models has increased.

Arm Holdings ADR (NASDAQ: ) saw a significant drop. They were down as much as 9.4% on the third day of trading Analyst Sara Russo suggested that while Arm is benefiting from the growth of AI, it is still too early to declare them winners in this area.

Today’s agenda includes: and important information such as the Eurozone

In commodities Citigroup (NYSE:) analysts predict international geopolitical events. This, along with technical trading, could push the price briefly past $100. However, they also predict that demand will continue to slacken, and elsewhere, prices rose for the third day in a row. Due to the extreme heat in Brazil, this poses a risk to the next crop. And Brazil’s strong currency has reduced export demand from sellers.

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