Australian shares are expected to start the day higher following optimism on US markets, which appear to be ignoring dire forecasts about the economy.
Market snapshot at 7:45am :AUD: 64.41 US cents, 51 British pence, 58.6 Euro cents, 68.98 Japanese yen, $NZ1.054Europe: UK -0.9c at 5,791, Germany +1.3pc at 10,697, Euro Stoxx 50 +0.9pc at 2,918
Wall Street surged on hopes that the number of coronavirus infections is slowing down and that the US can start to ease some of its lockdown measures. It appears investors are not concerned about current results as the corporate earnings season begins but are focused on the long-term value of each company's franchise, said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York."No, because I have difficulty in believing the market fully recovers until the timing of the economic recovery is visible, and we just don't know that timing.
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