Dr Oliver said the Australian dollar, which was at 93. 22 US cents on Saturday morning, would likely remain fairly steady as influences in the US pushed it higher and "jawboning" from the Reserve Bank sought to drive it down. "It's sort of stuck between a rock and a hard place," he said. "It's hard to come up with a strong view either way, but I think ultimately it's probably going to head lower.
The Dow Jones Industrial Average ended down 0. 30 per cent at 16,662. 91, the broad-based S&P 500 finished off a bare 0. 01 per cent at 1,955. 06 and the tech-rich Nasdaq Composite gained 0. 27 per cent to 4,464. 93. "For all intents and purposes, the US share market was flat, so consequently, the lead-in from the US is fairly neutral," Dr Oliver told AAP.
He said the conflicts in Ukraine and Iraq would likely affect the market during the week, but it was difficult to say whether that influence would be positive or not. "Both of those issues seem to wax and wane," he said. "Obviously geopolitics remains an issue and that's going to cause occasional bouts of volatility.
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