Australian Stock Report - Market Pulse

Morning market wrap: Fed minutes cap markets

marketpulse
Publish date: Thu, 21 Aug 2014, 10:32 AM
marketpulse
0 1,810
Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

Global markets put in a mixed performance overnight as attention turned towards the Fed's monetary policy minutes for July.

In the US, all eyes were on the Fed meeting minutes, which showed officials debated whether to start raising interest rates soon amid rising price pressures and healthy jobs growth.

This contrasted with recent expectations the Fed will delay its first rate hike, putting a cap on Wall Street's advance.

Across the Atlantic, stocks were pressured by Danish brewing company, Carlsberg, which warned its business was hurt by a deteriorating operating environment in Russia

Carlsberg's warning spooked investors, who fear sanctions against Russia will deal damage to eurozone economic growth.

In the commodities complex, oil rebounded amid data that showed US crude stockpiles fell much more than expected last week.

There were outsized gains in aluminium, copper and nickel as traders interpreted the Fed's hawkish tone as a sign the US economy is gathering steam, which may stoke commodity demand.

Among the currencies, the US dollar was in hot demand following the release of the Fed minutes. The greenback soared to its highest versus the yen since April.

The post Morning market wrap: Fed minutes cap markets appeared first on Market Pulse.

Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment