Asian Index Futures Rise Before Fed as Crude Rebounds After Drop

Bloomberg (18/9) - Asian index futures rose and the dollar held declines against major peers with the Federal Reserve to announce whether it intends to cut economic stimulus today. Crude oil rose for the first time in four days. Nikkei 225 Stock Average futures added 0.8 percent by 3 a.m. in Osaka, while contracts on Australia’s S&P/ASX 200 Index gained 0.1 percent. Standard & Poor’s 500 Index futures were little changed after the gauge climbed 0.4 percent in New York, rising a third day. The dollar was steady after losing at least 0.4 percent to the Australian and New Zealand currencies yesterday. West Texas Intermediate oil added 0.2 percent. Most economists surveyed by Bloomberg predict the Fed Open Market Committee will announce a reduction in bond buying today, with Treasury purchases to be cut to $35 billion from $45 billion, according to the median of 34 estimates in a Sept. 6 poll. Speculation over the future of the Fed’s quantitative easing program has whipsawed global assets since May, when Chairman Ben S. Bernanke first signaled cuts may start in 2013.