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Japan Leading Index Data Due On Wednesday
(RTTNews) - Japan will on Wednesday see October results for its leading and coincident indexes, highlighting a light day for Asia-Pacific economic activity.
The leading index is expected to slip 0.3 percent on month after climbing 2.2 percent in September. The coincident is seen higher by 2.5 percent on month after rising 1.3 percent in the previous month.
Japan also will see November numbers for producer prices, with forecasts suggesting an increase of 3.0 percent on year, up from 2.9 percent in October.
Most of the region is off on Wednesday for the Christmas Day holiday, including South Korea, Malaysia, Singapore, Hong Kong, Indonesia, Australia and New Zealand.
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U.S. Pending Home Sales Unexpectedly Unchanged In September
After reporting a sharp increase by pending home sales in the U.S. in the previous month, the National Association of Realtors released a report on Wednesday showing pending home sales unexpectedly came in flat in the month of September. NAR said its pending homes sales index was unchanged at 74.8 in September after surging by 4.2 percent in August.
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Bank Of Canada Cuts Interest Rates By Another Quarter Point
The Bank of Canada on Wednesday announced its widely expected decision to lower interest rates once again, cutting rates by a quarter point for the second consecutive meeting. The Canadian central bank said it reduced its target for the overnight rate by 25 basis points to 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.
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Bay Street Likely To Open Higher; BoC, Fed Rate Announcements Eyed
Canadian stocks are likely to open on a positive note on Wednesday, tracking firm oil and metal prices. Expectations of interest rate cuts by the Bank of Canada and the Federal Reserve may also contribute to a steady open on Bay Street.
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FTSE 100 Advances As Miners, Pharma Stocks Rally
The U.K. market is up firmly in positive territory on Wednesday, led by gains in mining and pharmaceutical sectors, thanks to a rebound in metal prices and stronger than expected earnings from drug major GSK.
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Pound Slides Amid UK Fiscal Concerns
The British pound weakened against other major currencies in the European session on Wednesday, as investors expect that UK Chancellor of the Exchequer Rachel Reeves will have to make tough decisions over where to raise taxes and reduce spending in the approaching Autumn Budget.
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CAC 40 Flat In Cautious Trade Ahead Of Fed Rate Decision
French stocks are mostly subdued Wednesday morning with investors largely refraining from making significant moves while awaiting the Federal Reserve's monetary policy announcement later in the day, and looking ahead to the European Central Bank's rate decision and the meeting of U.S. President Donald Trump and his Chinese counterpart Xi Jinping on Thursday.
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Sensex, Nifty End Higher Ahead Of Fed Decision
Indian shares eked out modest gains on Wednesday ahead of a Federal Reserve interest-rate cut expected later in the day.
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DAX Moves In Tight Range; Earnings, Fed Policy Announcement In Focus
German stocks are turning in a mixed performance on Wednesday with investors mostly reacting to corporate earnings announcements and awaiting the Federal Reserve's interest rate decision due later in the day. The European Central Bank is scheduled to announce its monetary policy on Thursday.
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