Australian shares are set to open lower amid a broad sell-off in New York as strong jobs data opened the door to higher rates. US 10-yr yield eyes 4.8pc.
Australian shares are set to fall, tracking losses on Wall Street which continue to adjust to data showing a stubbornly resilient US economy, opening the door to still higher interest rates., report showed that the number of available positions rose to 9.61 million in August from less than 9 million in July. Economists polled by Reuters had forecast 8.8 million job openings in August.
“If we reduce too soon, or send signals that we are not resolved, we won’t get to 2 per cent — and we have to get to 2 per cent. That’s non-negotiable,” he said. “So, I want us to hold. I think that’s the appropriate thing to do, for a long time.”, the former Bank of England governor and earlier the Bank of Canada’s boss, said he expects the US Federal Reserve to raise interest rates again before the end of the year to help curb inflation.
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