Hong Kong stocks end little changed, investors await Fed decision

Hong Kong stocks end little changed, investors await Fed decision

So far this year, the rupiah has strengthened about 1.3 percent against the dollar.

If it truly is indicative of a slowing economy this may put the Dollars at risk of further retreat as it may jeopardize the FOMC outlook of one additional rate hike beyond June, (many investors think the September meeting looks the most likely date for this 3rd hike).

The dollar index, which tracks the greenback against a basket of six major rivals, was flat at 97.007. What emerges from the Fed meeting "is certainly going to chart the course for a lot, including the strength of the dollar", said Bill Northey, chief investment officer at the private client group of U.S. Bank in Helena, Montana, who spoke from Minneapolis. May's annual inflation rate was a 14-month high of 4.33 percent. It hit session high at 0.7541 and made session lows at 0.7521 levels.

SYDNEY, June 14 (Reuters) - Asian shares crept higher on Wednesday after Wall Street notched another all-time high, while the dollar and bonds awaited clarity on the Federal Reserve's future path for US policy after a likely rate rise later in the day. The Australian dollar rose to $0.7560, from $7542 on Monday.

Yet neither the US nor the world economy is likely to regain the robust health that prevailed before the recession struck a decade ago.

A recovery in tech stocks and fresh optimism over troubled Italians banks lifted European shares from seven-week lows on Tuesday.

This leaves the market vulnerable to any hawkish spin from the Fed, which would likely slug Treasury prices while lifting the embattled US dollar.

U.S. equity markets gained ground on Tuesday with the S&P 500 index advancing to a fresh record high as underlying confidence in the market held firm.

Dow Jones closed up by 0.43 percent, S&P 500 ended d up 0.45 percent, Nasdaq finished the day up by 0.72 percent.

USA 30-year yields were last at 2.863 percent, compared to 2.868 percent late Monday.

Ahead of the Fed announcement tomorrow morning New Zealand time, Statistics New Zealand releases balance of payments data for the first quarter today, which is expected to show the current account deficit unchanged at 2.7 per cent of gross domestic product.

Among automakers, Toyota is rising 0.3 percent and Honda is adding nearly 1 percent.

Oil prices edged higher on Tuesday after OPEC detailed supply cuts around the world, but the cartel also said overall production rose in May, and crude stayed well below $50 a barrel despite the modest recovery. Brent crude oil was down 45 cents a barrel at $48.27 while USA crude was 50 cents lower at $45.96.

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