Company Interview / the open: ASX set to rise, after Fed holds

The local market is set to open slightly higher this morning with ASX futures up 0.1%.

All eyes were on the US Federal Reserve this morning as it kept rates steady, pointing to the risks of both higher inflation and unemployment as it tries to measure the impact of President Trump's tariff policies.

On Wall Street, trading was choppy before and after the Fed decision, which was expected by the market, while sentiment was boosted on optimism that the United States will reach deals with trading partners. 

Notably, Uber Technologies reported weaker-than-expected quarterly gross bookings, citing lower US inbound travel that’s led to slower gains in its ride-share business.

Oil prices have headed lower again on doubts that upcoming U.S.-China trade talks will result in a breakthrough, while hopes for an Iran-U.S. nuclear deal eased supply worries. Brent crude futures dropped 1.6%, at $61 a barrel, whilst copper fell close to 3%. Iron ore rose 0.6% to $100 a ton. 

The Australian dollar fell 1.1% overnight to US64.25c. Locally on the corporate front, ANZ reported a 12% increase in cash profit of $3.6 billion. Orica and Light Wonder are also reporting.