Market Report with Paul Wareing - March 15, 2017

Written on the 15 March 2017

The ASX200 had a positive week and ended 0.8% higher. The Aussie dollar drifted lower down 0.7%, oil was hit hard on higher US stockpiles and production, gold drifted lower on the much anticipated US interest rate move and iron ore continued south. As expected the Reserve Bank of Australia kept interest rates on hold and maintained a neutral stance in its outlook

In the US, solid jobs data pretty much guaranteed a rate rise in the US. The focus will now be on the accompanying statement and any hints of future rate rises. Mr Trump was remarkably quiet, which is almost as unnerving as his tweet fests !!

Looking ahead, in the US it's all about the interest rate decision and the statement that follows. The market's reaction will be based on how aggressively the Fed anticipates rate rises in the future. We find out on Thursday morning.

Locally a somewhat lacklustre NAB Business survey has taken the shine off the previous months stellar outlook. Iron ore prices will be of interest and hopefully the Presidents next statements will put some meat on the bones of his fiscal policy.