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1.Market Observations, 8.Was Sticky

2 Oct 2019 (TheAge) – ASX: Rates decision flicks market up to one-week high

(2 October 2019, The Age, Business, p29, By Lucy Battersby)

S&P/ASX 200 (XJO) index daily candle chart (Brainy)

S&P/ASX 200 (XJO) index daily candle chart (Brainy)

‘It wasn’t until the Reserve Bank board’s decision emerged at 2.30pm that the stock market got a strong sense of direction on Tuesday. The S&P/ASX 200 Index wafted down to a flat position of 6690 before a cut in the official cash rate to 0.75 per cent caused a rush in trading that saw the index gain 52 points in the final two hours of trading.’


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