Morning market update - 25 August 2014

Morning market update - 25 August 2014

Soft start for ASX expected after Wall Street ends lower on Yellen’s hawkish tone

A divergent hawkish and dovish tone taken by Fed chair Janet Yellen and ECB president Mario Draghi did little to move stocks Friday night, with Wall Street ending only moderately lower.

All in all, the Jackson Hole symposium didn’t ruffle many feathers on Friday after Janet Yellen continued her hawkish tone, giving minimal clues on interest rates. Meanwhile ECB president Mario Draghi reiterated that euro-zone economies require more support to help spur jobs growth, along with more policy coordination from euro-zone members.

It was nothing new from Draghi, other than stating a wait and see approach being taken on implementing an asset-backed security purchases program. Effective...

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