The Fed on Wednesday signaled a higher bar to further rate cuts after easing its benchmark overnight lending rate by a quarter of a percentage point. Powell, in a press conference later, promised future cuts "if the economy does turn down".

The local share price index futures rose 0.1pc, a 14.4-point premium to the underlying S&P/ASX 200 index

close.

The benchmark dipped 0.2pc on Wednesday.

New Zealand's benchmark S&P/NZX 50 index rose 0.1pc in early trade