Asian Shares Mixed Ahead of the Fed Decision

China’s Shanghai Composite index opened down 0.78 percent to 3123.1 on Thursday, bucking the positive sentiment in Asia that’s inspired by the positive lead from Wall Street.

Energy counters led the rise on major U.S. indexes overnight, after global crude oil prices surged 5.7 percent overnight.

The Dow Jones Industrial Average finished 0.8 percent higher, with Chevron leading the index higher. The S&P 500 rose 0.9 percent to break resistance at 1,993, ending within 5 points of the psychologically key 2,000 level. The tech-heavy Nasdaq Composite ended up 0.6 percent.

The Fed’s Federal Open Market Committee (FOMC) could raise short-term interest rates for the first time in nine years at its two-day meeting, which began Wednesday. All eyes are on expected statement and press conference due on Thursday afternoon local time.


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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza