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ASX 200 adds 0.3pc; Fortescue sees biggest gain of 2023, CSL dives on foreign currency hit

Fortescue sees strongest gain this year. CSL hammered on foreign currency hit. Gas industry to increase supply.  Citi warns on coal sector. Consumer confidence at three-year low.

Hopes of a rate pause by the US Federal Reserve are likely to lift investor sentiment globally, including on the ASX. Picture: David Swift
Hopes of a rate pause by the US Federal Reserve are likely to lift investor sentiment globally, including on the ASX. Picture: David Swift

Welcome to the Trading Day blog for Wednesday, June 14. The Australian sharemarket rose a for a third consecutive session on the back of strong gains by materials and financials as investors awaited a highly anticipated interest rate decision in the US overnight.

The S&P/ASX 200 index rose 22.84 points, or 0.3 per cent to 7161.70 – its best close since last Monday. The broader All Ordinaries gained 0.3 per cent to 7354.10.

Wall Street futures are mixed with the Dow Jones down by 0.2 per cent, while the S&P 500 and Nasdaq futures were flat. 

The dollar was near US67.65c at the close.

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Original URL: https://www.theaustralian.com.au/business/trading-day/live-asx-200-to-rise-us-fed-may-hold-rates-steady-as-inflation-cools/live-coverage/32334f70124a4975a314cee974836b55