Economists have predicted trading will open 10 points higher at the start of trading on Monday as a result of the US Federal Reserve’s stimulus decision and the Syrian chemical weapons deal.
“We’ve got an important meeting coming up with the Fed decision on whether to start tapering its monetary stimulus or not, and the expectation is if they do, it will be only by a small amount.
“So that combination of less concerns about what the Fed will do and fading worries about Syria have seen the sharemarket in the US push higher,” AMP chief economist Shane Oliver told the AAP.
Oliver has predicted the increase following gains on both Wall Street and European markets.
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