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It can be said the market players were eagerly waiting for the dovish comments of the US Federal Reserve. In the recent meeting of the US Federal Reserve, the Chairman Mr. Jerome Powell had kept the rates the unchanged and the market took a hint from his comments that the US central bank would be patient with the rate hikes moving forward. This announcement from the US Federal Reserve cheered up the investors. The investors were earlier worried about the increased concerns related to the global economic slowdown. However, the market players are now worried about the Federal Reserve stance on the interest rates as the January 2019 jobs report was strong. The US central bank needs to adjust interest rates so that the inflation can be checked.
On the other hand, the market players are also tracking the news related to the trade wars between the US and China. The settlement of the trade fight might positively impact the global markets and the sentiments of the global market players might also get support. Yesterday, Dow Jones Industrial Average closed the session in green as the index witnessed the rise of 25,239.37 which implies the rise of 175.48 points or 0.70%.
Oil Prices Sensitive to Global Macro-economic Factors
Moving forward, the oil prices are expected to be sensitive to the global macro-economic factors as well as the geopolitical environment. If the macro-economic factors are unfavourable the oil prices might get negatively impacted. Also, oil prices are sensitive to the momentum in the global financial markets. If the financial markets witness a downturn, the oil demand comes into question which negatively impacts the oil prices. Therefore, it can be said that oil prices are sensitive to multiple factors. Also, the unfavourable momentum in the business environment affects the oil prices.
Australian Markets Closed Substantially Higher
Today, the Australian markets closed the session in green as S&P/ASX200 witnessed the rise of 114.7 points or 1.9% and thus, the index closed at 6005.9. The Australian markets are also very sensitive to the business environment in the Chinese markets and the performance of the broader Chinese economy. Therefore, it can be said that the performance of the Australian markets would be sensitive to the news about trade war between the US and China. On February 5, 2019, the stocks like Steadfast Group Limited (ASX:SDF) and AMP Limited (ASX:AMP) closed the session in green as these stocks witnessed the rise of 11.494% and 9.955%, respectively.
On the other hand, the stocks like Domain Holdings Australia Limited (ASX:DHG) and Syrah Resources Limited (ASX:SYR) closed the session in red as these stocks witnessed the fall of 5.172% and 3%, respectively. Battery Minerals Limited (ASX:BAT) had come forward and made an announcement related to the important business updates. Read the full news here. Also, Global Energy Ventures Limited (ASX:GEV) had made an announcement that they have wrapped up the placement focusing on raising A$4.7 million. Read the full news here.
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