Australian shares are set to edge lower with US markets closed for the July 4th holiday. Rate decision at 2.30pm AEST. $A and bitcoin rally.
Australian shares are poised to slip at the open, with the Reserve Bank’s 2.30pm AEST policy decision top of mind. US markets were closed for Independence Day.The local currency rallied 0.7 per cent; the Bloomberg dollar spot index was flat.The yield on the US 10-year note was at 2.88 per cent.P 500 futures slipped 0.4 per cent, Nasdaq futures slid 0.5 per cent.Overseas data: Services PMIs for June for China , Japan , Euro zone , UK ; US May factory orders and durable goods ordersAUD +0.
“Consumers’ expectations for inflation have risen, alongside concerns about prices for food, gas and rent,” the central bank said in its second quarter Survey of Consumer Expectations. “Generally, people see inflation as being more pervasive now.” The surveys both reinforce calls for a 75-bp rate increase at the Bank of Canada’s next decision on July 13. That would be the largest hike since August 1998, when the bank lifted rates by 100-bp to defend the currency.European shares rose on Monday as the oil and gas sector marked its best session in two months, while bleak euro zone investor morale kept sentiment in check.The continent-wide STOXX 600 index was up 0.
“Despite the significant concessions the Guinean State has been kind enough to make, it is clear the obstruction is being maintained by both your companies, to the detriment of the interests of the project,” Magassouba wrote.Brent prices could soar to a “stratospheric” $US380 a barrel in “the most extreme scenario” of Russia slashing oil production by 5 million barrels per day in retaliation to a price cap being considered by the Group of Seven, analysts at J.P.
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