Tue. p.m. 1/2/22. Australian RBA holds rates steady, but pulls away the monetary stimulus.
That's called two-bob each-way, in the old race-track parlance.
XJO today:
XJO had a moderate rise today of +0.49%. XJO remains below many overhead resistance.
Today's announcement by the RBA brought a flurry of short-term upside moves in the XJO at 2.30 p.m., but that soon evaporated about 3.00 p.m.
At the close, XJO is back close to where it was at 2.30 p.m.
Forget about the RBA announcement, the big mover in our market today was the Miners. Materials (XMJ) was down -1.21%. That put a damper on our market today.
International effects are much more important to the Australian market than anything the Federal Government or the RBA can do.
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