Australian shares are expected to open lower on Monday on speculation the Federal Reserve and the Reserve Bank will lift interest rates in lofty increments.
Australian shares are expected to open lower on Monday, tracking a decline on Wall Street after a surprisingly strong US job report dashed hopes for a softer pace of Federal Reserve interest rate increases and speculation the Reserve Bank will lift its benchmark by a lofty increment.
Australian shares are expected to open 0.4 per cent lower on Monday, with tech stocks particularly vulnerable after the Nasdaq dropped 2.5 per cent on Friday. The Dow Jones Industrial Average fell 1.05 per cent, and the the SThe US Labor Department’s closely watched employment report showed the US economy added 390,000 jobs in May, with the unemployment rate steady at 3.6 per cent for a third straight month, beating most analyst estimates.
Shane Oliver, chief economist at AMP, is confident central banks can bring inflation under control without causing a recession in the next 18 months, at least.
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