The S&P/ASX 200 ended the day down by 19 points to 4,635.10. The Aussie market reacted badly to the news that the Federal Reserve Bank would increase the emergency lending rate by .25%.
The Housing Industry Association will release its Affordability Report for the December quarter today.
The Dow Jones Industrial Average was higher by 9 points on Friday, ending the session at 10,402.35. Investors in the US were surprised by the Fed’s decision to raise emergency rates and leaving traders to wonder if this is start of removing stimulus from the US economy.
Over in the UK, the FTSE reached a one month high, closing to 5,358.17, up by 33 points. However the pound against the US dollar fell to a nine month low. Currently the rate is GBPUSD 1.5471.
The Asian markets were shaken by the Fed’s move, with the Nikkei losing 2.05% (212 points), to end Friday at 10,123.58.
The price of spot gold in Australian dollars is trading at $1,244.55 while in US Dollars it is trading at $1,118.50. The price of silver in Aussie dollars is $18.15 and in US Dollars it is $16.31.
The Aussie Dollar is up 1.18% from Friday’s close of 89 cents. A weak inflation rate in the US has seen the Aussie dollar strengthen.
The Aussie dollar versus the US dollar is USD$0.9007, against the Japanese Yen JPY82.48
Crude Oil was up, mostly based on news of labour strikes in France and Iran’s lack of cooperation with the UN’s nuclear program. Crude Oil closed at USD$79.81
For the biggest movers on the market yesterday click here…
That’s all I have for you this Monday. See you tomorrow.
Shae.
