Australian shares were on track to open lower on Wednesday as investors took a cautious stance ahead of key updates from the U.S. Federal Reserve. Market participants were particularly focused on the minutes of the Fed’s latest policy meeting, set to be released later in the day, and on Chair Jerome Powell’s upcoming speech at the Jackson Hole Symposium on Friday.
The local share price index (YAPcm1) indicated a 0.6% drop, translating to a 100.7-point discount compared to the underlying S&P/ASX 200 index (XJO) close. This cautious tone followed a modest 0.2% gain in the benchmark on Tuesday, showing that investors are increasingly on edge as they await direction from the Fed.
Meanwhile, in New Zealand, the benchmark S&P/NZX 50 index (NZ50G) also reflected the wary sentiment, slipping 0.3% to 12,525.57 points during early trading. The movement highlighted a broader regional trend of risk-off behavior as markets gear up for potential shifts in U.S. monetary policy.
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