* Wall Street little changed in early New York trading
* Dollar flat against rivals; poll lifts kiwi before vote
* Oil prices pare gains after inventory data (Updates with early U.S. market activity; changes dateline, previous LONDON)
By Caroline Valetkevitch
NEW YORK, Sept 20 (Reuters) - U.S. stocks and the dollar were steady on Wednesday with investors cautious ahead of a U.S. Federal Reserve statement that may give clues on whether the central bank will raise interest rates for a third time this year.
MSCI's World index .MIWD00000PUS , which tracks stocks in 46 countries, was up 0.1 percent and hit another record, while U.S. Treasuries prices gained slightly.
With the Fed due to release its latest policy statement at 2 p.m. ET (1800 GMT), caution prevailed. The U.S. central bank is widely expected to announce that it will begin paring its bond holdings, and many analysts and investors expect the reductions may begin in October.
While the Fed is expected to hold rates steady, investors are keen to see the Fed's economic projections and any other signals on whether a rate increase in December is likely. they are slightly more dovish in their language, I think you could see a reversal in the banks, but I don't see a lot of activity," said Aaron Clark, portfolio manager at GW&K Investment Management.
The S&P financial index .SPSY was up 0.2 percent on Wednesday after rising 0.8 percent in the previous session.
The Dow Jones Industrial Average .DJI rose 9.85 points, or 0.04 percent, to 22,380.65, the S&P 500 .SPX lost 0.67 points, or 0.03 percent, to 2,505.98 and the Nasdaq Composite .IXIC dropped 21.10 points, or 0.33 percent, to 6,440.23.
The pan-European FTSEurofirst 300 index .FTEU3 lost 0.18 percent.
Markets are pricing in a 58-percent probability of the Fed raising rates in December, according to the CME Group's (NASDAQ:CME) FedWatch tool.
The European Central Bank is widely expected to say next month that it will begin scaling back its asset-purchase stimulus program from January, even though a stronger euro, which dampens inflation, has complicated the outlook.
The dollar index .DXY fell 0.01 percent, with the euro EUR= unchanged at $1.1992.
The New Zealand dollar hit its strongest in more than a month at $0.7374 NZD= after a poll showed the ruling National Party regaining a wide lead over the opposition before Saturday's election. the bond market, benchmark 10-year notes US10YT=RR were last up in 3/32 price to yield 2.232 percent, from 2.243 percent on Tuesday. prices were higher, but pared gains after data showed a bigger-than-expected build in U.S. crude inventories. crude CLcv1 rose 1.78 percent to $50.36 per barrel and Brent LCOcv1 was last at $55.85, up 1.73 percent on the day.
For Reuters Live Markets blog on European and UK stock markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets
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http://tmsnrt.rs/2egbfVh Global assets in 2017
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http://reut.rs/2mcp7T1 GRAPHIC-Emerging markets in 2017
http://tmsnrt.rs/2ihRugV GRAPHIC-MSCI Indexes Price Performance YTD
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