Wall Street's hopes for a rate cut were dashed after the Federal Reserve gave a strong signal that interest rates would not fall — or rise — in the near future.
Australian shares are set to fall moderately at the open, following Wall Street's weakest performance in nearly a month.AUD: 70.12 US cents, 53.72 British pence, 62.61 euro cents, 78.15 Japanese yen, $NZ1.06Europe: FTSE 100 -0.4pc at 7,385, DAX +0.1pc at 12,344, CAC +0.1pc at 5,586, Euro Stoxx 50 +0.4pc at 3,515By 7:10am , the Australian dollar had dropped to 70.1 US cents on a stronger US dollar.
Several companies will hold annual general meetings today including AMP, Woolworths, Santos and Woodside Petroleum.The Federal Reserve decided to keep US interest rates steady on Wednesday , and signalled that a rate cut — or hike — would not be happening any time soon.
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