Friday , August 23 2019
Home / australia / Australian Dollar and Wall St surge after Federal Reserve keeps interest rates steady

Australian Dollar and Wall St surge after Federal Reserve keeps interest rates steady


January 31, 2019 07:59:14

The interest rates on the Australian Dollar are as follows:

Markets at 8:05 am (AEDT):

  • ASX SPI futures + 0.4pc at 5.841, ASX 200 (Tuesday's close) -0.5pc at 5,874
  • AUD: 72.46 US cents, 55.26 British pence, 63.11 euro cent, 78.93 Japanese yen, $ NZ1.05
  • US: Dow Jones + 1.8pc at 25.015, S&P 500 + 1.6pc at 2.681, Nasdaq + 2.2pc at 7.183
  • Europe: FTSE 100 + 1.6pc at 6,942, DAX -0.3pc at 11,182, CAC + 1pc at 4,975, Euro Stoxx 50 + 0.1pc at 3.157
  • Commodities: Brent crude + 0.7pc at $ US61.76 / barrel, spot gold + 0.5pc at $ US1,318.43 / ounce, iron ore + 4.9pc at $ US82.53 / tonne

72.7 US cents – but within half an hour, its gains moderated to 72.5 US cents, at 7:15 am (AEDT).

The dollar also lifted strongly, gaining about 1 per cent, to 63.14 euro cents and 55.31 British pence.

Meanwhile, the local share market is expected to rise at the open. ASX futures indicate an early gain of 0.4 per cent.

The Fed kept rates steady at 2.25 to 2.5 per cent range, and took a more dovish tone compared to its post-meeting statements.

Instead of aiming for "further gradual increases", the Fed said it would be "no patient".

Wall Street

The Dow Jones index jumped 423 points, or 1.7 per cent, to 25.002 at 3:20 pm (New York time).

The benchmark S&P 500 lifted 1.5 per cent to 2.680, while the tech-heavy Nasdaq gained 2.1 per cent to 7.197.

Investors are also keeping an eye on the current trade war.

Boeing shares added 6.3 per cent, providing one of the biggest boosts to the US market, which beat expectations.

Apple's stock soared 7 days ago, as well as a drop in iPhone sales and China revenue – was not as weak as many analysts had expected.

More to come.

ABC / Reuters







First posted

January 31, 2019 07:41:36

Source link