Market is already factoring in a rate cut of 0.5 % by the US...

Market is already factoring in a rate cut of 0.5 % by the US federal reserve

Hence unless the rate cut is say 0.75 or 1 % (in which case the rate is 0 % !!!), there is not going to be much reaction.

One good thing so far with the american and british markets is with so much bad news in the air, the markets are more resilient than our poor aussie market flodded with commoodity stocks and miniscule banks.

Time will tell (may be this week) whether the Us market is going to break down or make a diamond reversal upwards of 9000 (and not go below 8115 as otherwise there is no reversal)

Sara