Asia markets were mostly lower on Thursday after the U.S. Federal Reserve opted to hold interest rates steady. The focus will be on the yen.
the possibility of a rate hike, easing worries over the central bank likely not being able to rein in inflation., which had a volatile start to the week amid suspected government intervention to prop up the currency on Monday. It was last trading at 155.83 against the U.S. dollar.was about 0.1% lower, while the smaller-cap Kosdaq dipped 0.1%. Investors parsed consumer prices data from South Korea, which showed a slower rise in April from March.The Dow added 87.37 points, or 0.23%.
U.S. oil inventory levels have risen to the highest levels since June 2023 as refiners process less crude as demand for gasoline has softened. "The refiner is totally floundering on the run rate and that's because they don't believe there's demand there," said Bob Yawger, director of energy futures at Mizuho Americas.Federal Reserve Chair Jerome Powell announces interest rates will remain unchanged during a news conference at the bank's William McChesney Martin building in Washington, D.C., on May 1, 2024.The central bank kept its benchmark short-term borrowing rate in a targeted range between 5.
The Federal Open Market Committee voted to ease the pace at which it is lowering bond holdings on the Fed's balance sheet, a move that could signal an incremental easing of monetary policy.declined 0.1% to 106.09 Wednesday afternoon following the Federal Reserve's decision to maintain its benchmark short-term borrowing rate in a range between 5.25% and 5%. The decision had been widely anticipated by the market.
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