GLOBAL MARKETS-Asia stocks move higher on Wall Street lead, oil steady
SPY•Fed rate expectations and crypto prices
Market pricing continues to indicate that September's Federal Reserve meeting will bring an increase to interest rates. Fed funds futures are pricing an implied 65% probability of a 25-basis-point hike at the U.S. central bank's next two-day meeting ending on September 16, according to the CME Group's FedWatch tool.
Federal Reserve Bank of New York President John Williams said he remained optimistic that inflation pressures are on track to ease gradually, but said the Fed will hike rates if inflation doesn't slow.
In cryptocurrencies, bitcoin BTC= and ether ETH= both slipped 0.5% to $63,446.35 and $1,857.44 respectively.
Oil, currencies and bond yields remain in focus
Oil prices made limited gains as trading resumed in Asia, with Brent crude up 0.6% at $84.29 a barrel, after falling to a three-week low on Monday as U.S. President Donald Trump said he had held off on a fresh attack on Iran as a gesture of goodwill in peace talks. However, Tehran has denied that any negotiations are taking place.
