Asian shares went flat on Thursday as uncertainty over the outlook for both U.S....
SYDNEY - Asian shares went flat on Thursday as uncertainty over the outlook for both U.S. interest rates and the chance of global fiscal stimulus sucked the life out of markets.
Japan’s Nikkei added 0.1%, as did Shanghai blue chips. E-Mini futures for the S&P 500 dipped 0.04%, while EUROSTOXX 50 futures eased 0.09%. That reluctance did not seem to gel with the market’s aggressive pricing for more than 100 basis points of easing by the end of 2020. Hopes for U.S. fiscal stimulus also got a knock when President Donald Trump reversed course and said he was not looking at cutting payroll taxes.Much now depends on how dovish Fed Chair Jerome Powell chooses to be in his Jackson Hole speech on Friday.
The euro edged back to $1.1089 from a top of $1.1107, not helped by a gloomy economic outlook from Germany’s finance ministry.
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