APAC MarketWatch
US stocks moved higher following positive comments from Fed Chair Powell and Fed President Goolsbee. Powell quoted that the economy is back on the “disinflationary path”. Markets took this as confirmation that the Fed will deliver its first rate cut in the next few months.
The S&P 500 posted a record high close, closing above 5,500 for the first time.
Following Powell’s comments US bond yields were lower, and the US dollar also fell.
The AUD was higher after the minutes from the RBA’s June meeting, which suggested a rate hike is still an option.
Commodities were generally lower, with gold, iron ore and oil all falling.
