17th September 2015
Global stocks firmed and the dollar was range bound on Thursday ahead of a key interest rate decision by the Federal Reserve.
But weak US inflation data saw investors pare bets the central bank is about to raise rates for the first time in almost a decade.
Indications of a disinflationary trend could complicate the Fed’s outlook as other signs suggest the US economy is strong enough to handle higher rates.
Money market futures trading pointed to a 23-to-29 per cent chance of the policy-setting Federal Open Market Committee raising its target federal funds rate.
The uncertainty fed into markets, with stocks holding on to gains and the dollar doing very little in cautious trade.
Oil saw more price action, as crude slumped on weak Japanese data after a six per cent surge in the previous session.
August saw Japanese exports slow for a second straight month, raising concerns about global growth just as a possible hike in US rates could hit emerging markets.
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