Australian shares are set to follow New York lower. US dollar surges after CPI data shows inflation risks persist. Global bond yields rise. Follow updates here.
Australian shares are poised to drop, in line with losses in New York, after the latest US inflation data renewed bets that the Federal Reserve is not yet done lifting interest rates. Core consumer prices, which exclude food and energy, rose 0.3 per cent last month. Headline prices were 0.4 per cent higher. Both metrics were forecast to rise 0.3 per cent.
7 per cent. The US dollar was set to post its best session in five weeks, and snap a six-day losing streak. Perenti and Silex Systems both host AGMs. Harvey Norman shares trade ex-dividend. The main data focus on Friday will be the midday release of CPI and PPI from China. The yield on the US 10-year note surged 13 basis points to 4.69 per cent at 4.30pm in New York. The two-year yield, more sensitive to rate moves, reached 5.07 per cent. The 30-year yield was at 4.86 per cent.
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