Shares are set for modest opening losses as Wall Street struggles to extend its rebound. Cash rate seen rising a quarter point. Follow updates here.
Australian shares are poised to open lower, tracking lacklustre movements on Wall Street. ASX futures were down 14 points or 0.2 per cent to 6990 near 7.10am AEDT. The yield on the US 10-year note was 8 basis points higher to 4.66 per cent at 3.15pm in New York. For local investors, the Reserve Bank’s policy statement at 2.30pm AEDT is in sharp focus. Policymakers are expected to vote for a quarter point increase in the cash rate target to 4.35 per cent. Click here for a preview.
2 per cent. Note: There was a time change in North America on the weekend and as a result, Wall Street’s closing bell will sound at 8am AEDT through early March. What’s driving markets For Wall Street, the question is whether the rally triggered by Federal Reserve chairman Jerome Powell will prove sustainable.
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