Australian shares are set to rise in early trade, following an upbeat lead from Wall Street, while the World Trade Organization finds that the US breached international trade rules by starting a trade war with China.
Australian shares are set to rise in early trade, following Wall Street higher.
Investors are hopeful that the US Federal Reserve will stick with its 'ultra-easy' monetary policy at its two-day meeting this week.The Australian dollar was slightly higher at 73 US cents.On Wall Street, the tech-heavy Nasdaq outperformed the other two major indices, after jumping 1.2 per cent to 11,190 points.
Oil prices rose, supported by hurricane supply disruptions in the United States, but forecasts of a slower-than-expected recovery in global demand from the pandemic weighed.Gold slipped to $US1,953.71 as the US greenback rose, although hopes for a dovish monetary policy stance from the Fed limited the safe-haven metal's losses.
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