MARKET OPEN: Profit taking likely ahead of Fed announcement

Wed, 10 Jun 2020

The domestic equity market may ease further today after Wall Street opted for some profit taking ahead of the US Federal Reserve’s announcement early tomorrow local time. Investors will be keen to see the Fed’s multi-year forecasts in order to gauge how quickly officials are expecting the US economy to recover given the lockdowns and fallout from covid-19. Most economists are expecting it to point to a rebound in the second half of the year but for growth to remain well below where it was prior to covid-19 well into next year. “Interes...

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