OMF Markets Daily Commentary Report

The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.

HEADLINES

* Fed announces a surprise rate cut

*  Support for Equities and the U.S. dollar sold

* Dow is down

* RBA rate cuts 0.25%
– U.S. dollar being sold heavily, this has helped support the AUD
– Today sees the historic Australian Q4 GDP released

*  Oil prices jumped higher after the Fed cut interest rates
– OPEC mulling a bigger output cut of possibly 1 million barrels per day

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