Morning Report Thursday 30 October 2014
Please see our Market Matters Video Update 29th October - Banks, MYR, JBH, SEK, FLT and Membership Changes
At 5am AEST this morning, the Fed confirmed it will end its asset-purchasing program (QE), stating the US is on a stable growth path and labour conditions had “improved somewhat further”. However, the Fed also retained its commitment to keep interest rates low for a “considerable time”. The markets basically took all this in its stride, with the $US and hence gold, having the greatest reaction.
The Dow initially fell 100 points, but closed down only 30 points (0.2%), again illustrating its current strength.
The $A fell over 1c against the $US and Gold fell almost $US20.
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