Australian shares are heading for a strong open as earnings powered a rally on Wall Street and the Nasdaq surged 2.9 per cent.
Australian shares are heading for a big open as earnings powered a rally on Wall Street and the Nasdaq surged 2.9 per cent.P 500 +2.7% Nasdaq +2.9%The local currency was up +1.2% to 68.92 US cents“Bitcoin has recaptured the $US22,000 level as some short-sellers need to call it quits,” Edward Moya, senior market analyst at Oanda, wrote in a note. Cryptos are starting to look attractive now that expectations for Fed tightening have eased, he added.
Capital Economics analysts: “Inflation still seems set to fall, albeit from a higher level than envisaged before the war in Ukraine. Indeed, we expect commodity prices to fall, goods price pressures to ease, and base effects to cause big falls in headline rates by the turn of the year. The FTSE 100 index rose as a buoyant global mood and strong gains by banks and consumer staples offset fears of a big interest rate hike next month after stronger-than-expected jobs data.
Britain’s unemployment rate held at 3.8 per cent in the three months to May and the number of people in work rose by the most since the middle of 2021, data showed, suggesting the cost-of-living squeeze has not yet hit demand for staff.
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