Morning all
Thanks AM crew
Yesterday the XJO slid 1.1 per cent to 5147.1, its lowest close in nearly two months, while the broader All Ordinaries ended 1 per cent lower to 5230.4.
Markets were mildly lower overnight after the Fed confirmed any rate rises would be slow and steady going forward, while leaving rates on hold.
SPI futures are flat at 5157
Wall Street was positive for most of the day but fell away into the close on fears of a break up of the Eurozone.
It was the 5th down day in a row, the longest since February.
While the U.S. central bank put off an immediate rate hike, it lowered its economic growth forecast and signalled it still plans two rate increases this year.
S&P -.15%
Equities loved what they heard from Yellen once again. More cheap money but not negative yields like we are seeing in Japan and Germany on their mid-range bonds.
In her spoken remarks, Yellen seemed to imply that we may be looking now at only one rate hike this year. Of course, everything is conditional upon data, as the Fed constantly points out.
http://www.*****.com/commentaries/2016-06-15/images/20160615Gary1.png
AUD Gold $1743
Oil $47.49 -$1.00
Copper rose the most in three months amid a broader rally in mining stocks and base metals on signs that China plans to increase stockpiles. Nickel, aluminum, lead and zinc also advanced more than 1 per cent.
AUD .7409
Have a good day
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- Day Trading 16 June Pre Market
Morning all Thanks AM crew Yesterday the XJO slid 1.1 per cent...
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