Asian Stocks Set for Muted Start
Asian stocks looked set to for a muted start to trading Tuesday after their U.S. counterparts closed higher on speculation the Federal Reserve will reinforce its dovish message. Gold steadied around an all-time high, while the dollar remained under pressure.To get more news about OlympusFx, you can visit wikifx news official website.
Investors are betting setbacks in the global fight against coronavirus will push Fed Chairman Jerome Powell to signal Wednesday that rates will stay near zero for longer. Infections slowed in California, Arizona and Florida, though reported numbers are often incomplete on weekends. Health officials around the world are also trying to tackle a renewed increase in cases, with surges from China to Spain and Germany underscoring the difficulty of curbing the pandemic.
"We expect no change from the Federal Reserve," Jeffrey Halley, senior market analyst, Asia Pacific, at Oanda in Singapore, said. "That will reiterate their ultra-dovish stance."
China reported the most domestic coronavirus infections in more than four months as it battles outbreaks in its western and northeastern regions, raising fears of a serious resurgence.