Mid next week in the US the FOMC will announce their decision on US interest rates. The market is expecting a 25 basis point increase.
Buying interest in the US banking stocks has increased over the last few trading sessions, as increasing rates are perceived to help bank profit margins. CitiGroup hit a new post GFC high, whereas, Goldman Sachs and JP Morgan have only seen moderate bounces from their recent lows.
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CBA will need to hold the $77.65 low.
