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Sure, the Fed is going to raise rates soon. But how soon?

Apparently, “fairly soon”.

Whatever that might actually mean, it was enough to take the edge off the dollar, force the S&P 500 index into a fractional retreat and push up US Treasuries as markets digested the minutes of the Federal Reserve’s latest policy meeting.

Said minutes aren’t exactly doing a whole lot for equities in Asia, either. Futures tip both Sydney’s S&P/ASX 200 index and Tokyo’s Topix index to open 0.2 per cent lower, while in Hong Kong, the Hang Seng index is expected to open 0.1 per cent lower.

Corporate earnings reports out today include Crown Resorts, City Developments, OZ Minerals and Ramsay Health Care.

The economic calendar for Thursday hopes you brought your dancing shoes (all times Hong Kong):

  • 08.30: Australia Q4 capital expenditure
  • 09.00: South Korea interest rate decision
  • 13.00: Singapore consumer price inflation
  • 16.00: Taiwan industrial production
  • Macau January visitor arrivals are also expected today.
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