Surprise…
Nico Kelder, economist at the Efficient Group says the yields on the capital market followed suite (fell).
Commodities where mixed – platinum higher by 1.92% and gold lower by 0.27% and oil surged by 1.16%. European markets closed mixed.
US markets closed lower on the back of worse than expected retail sales figures for July while Hewlett-Packard also disappointed the markets. The Far East is lower by 2.25% (Japan) and 0.67% (Hong Kong) so far this morning.
After a healthy local rally yesterday, profit taking may limit upside today. The unexpected rate cut will be an influence for the next few days as the markets digest the news.
