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Asian, European Indexes Traded with Caution ahead of FOMC Meeting

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European index trading was range bound on a mixed note

Critical European indexes (DBEU) were trading on a mixed note on March 16, 2016, at 11:00 AM EST. The Euro Stoxx 50 ETF (FEZ) was trading nearly flat at 11:00AM ET. Looking at the performance of the major European indexes, DAX was trading higher by 0.56% while France’s CAC 40 was flat with a slight fall of 0.04%.

The Portuguese index, PSI, traded on a contrasting note as it rose by a significant 1.9%, while Belgium’s BEL20 rose by 0.55%. The investors waited for the FOMC before taking any major positions in the European indexes.

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Asian markets mostly flat, while Japanese index continued to fall

The major Asian indexes (AAXJ) were trading on a flat note on March 16, 2016, at 11:00 AM ET. The Japanese (DXJ) Nikkei 225 index, which fell by 0.80%, and the Taiwan weighted index, which rose by 0.94%, proved to be the outliers.

The fall in the Japanese index was regarded as a continued reaction by investors to the Bank of Japan monetary policy release on March 15, where the Bank of Japan failed to provide further easing measures.

Among other major Asian markets, the Indian (INDA) Nifty 50 and Australian (EWA) S&P/ASX 200 rose by 0.47% and 0.15%, respectively. The Shanghai Shenzhen CSI 300 index rose slightly for the day, as it gained 0.50%.

UK unemployment rate stable while average earnings rise

The UK Office for National Statistics published the jobs report for January 2016 on March 16, 2016. The unemployment rate remained unchanged at 5.1%. The average earnings excluding bonus rose by 2.2% against the forecasts of 2.1%.

The Bank of England and the Swiss National Bank are scheduled to meet on March 17, 2016, with both central banks expected to keep the interest rate unchanged.

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