Australian shares surged to new highs today after the US Federal Reserve's surprise decision to stick with its stimulus measures.
Investors have been cautious ahead of the Fed's meeting as the central bank was possibly begin to tightening its quantitative program, but instead the Fed elected not to pull back on a $US85 billion bond buying per month. The Australian dollar is expected to become stronger against the US dollar and once again, exports will become cheaper.
Continued market momentum will depend on manufacturing figures out of China early next week.
No comments:
Post a Comment