THE Australian sharemarket is expected to see some nervous trading ahead of this week's US Federal Reserve meeting.
The meeting is expected to indicate when the Federal Reserve might wind back its stimulus program, after a bipartisan US budget deal in congress that would avert another US government shutdown.
The Fed's decision is expected to reach Australia on Thursday morning.
AMP chief economist Shane Oliver is tipping a soft start to local trading on Monday.
"We will see a week of nervous trading ahead of the Federal Reserve meeting, then shares will look a bit stronger into the Christmas period," Dr Oliver said.
The Fed's announcement may cause the Australian dollar to fall, he said.
CommSec chief economist Craig James agreed most investors will be treading water early in the week.
"Our markets will have a flat start on Monday and most investors won't be buying and selling - they will wait until the (Fed's) decision comes through," Mr James said.
The Australian market fell 6-7 per cent over the last six weeks while US and European markets finished flat last week.
The Dow Jones on Friday was up 15.9 points (0.10 per cent) at 15,755.36, but down 1.7 per cent for the week.
The Australian dollar rose from 89.3 to 89.6 cents and was likely to drift until the Fed's decision, Mr James said.
The futures market dropped 15 points or 0.3 per cent, and oil prices fell modestly last week.
"The base metal markets saw a modest gain, which is positive for Australian miners," Mr James said.
Locally, the Mid-year Economic and Fiscal Outlook (MYEFO) and the Reserve Bank meeting minutes will be released on Tuesday.
At Friday's close, the benchmark S&P/ASX200 index was up 35.9 points, or 0.71 per cent, at 5,098.4. The broader All Ordinaries index was up 32.3 points, or 0.64 per cent, at 5,101.5.
Anda sedang membaca artikel tentang
Nervous trading ahead of Federal Reserve
Dengan url
http://tempatistirahatan.blogspot.com/2013/12/nervous-trading-ahead-of-federal-reserve.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Nervous trading ahead of Federal Reserve
namun jangan lupa untuk meletakkan link
Nervous trading ahead of Federal Reserve
sebagai sumbernya
0 komentar:
Posting Komentar