Asian Equities Expected Lower ahead of Japan Data, Fed Decision

Asian equities are headed for further losses on Wednesday, following a poor finish in the U.S. overnight, amid prevailing weakness in the oil markets and as investors exercise caution ahead of the Federal Reserve’s monthly meeting.

Australia’s benchmark S&P ASX 200 index surprisingly crept up 0.1 percent at the open, helped by miners who shrugged off iron ore prices at five-year lows. BHP Billiton and Rio Tinto gained 1.7 and 0.8 percent each.

Meanwhile, the Australian dollar hovered near multi-year lows early Wednesday, pinned at 8216 U.S. cents after minutes of the Reserve Bank of Australia’s December policy meeting revealed on Tuesday that the central bank felt a further decline in the local currency was needed to help cushion the economy from falling resource prices.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.