Australian stocks open higher following overnight gains on Wall Street: Afternoon market insights

Local stocks gained ground today on expectations the United States Federal Reserve is poised to deliver a further round of monetary easing.

The ASX200 rose 0.22% to 4132.3 while the broader All Ordinaries index also rose 0.22% to 4176.4.

The Australian dollar continued its slow, steady upwards march of recent days, buying $US1.0185.

“The better sentiment prevailing in the market has the Australian dollar poised to run higher over coming weeks should the [Federal Reserve] announce easing measures,” said senior trader at CMC markets Tim Waterer. “Such a move would appease the market and have traders once again on the search for yield, with the AUD offering plenty of attraction in that regard.”

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