Australian shares set to rise, investors buoyed by signs US coronavirus outbreak may be near peak

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Australian shares set to rise, investors buoyed by signs US coronavirus outbreak may be near peak
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The Australian dollar jumps 1 per cent overnight as the $130 billion JobKeeper wage subsidy package is passed into law.

The coronavirus pandemic saw the US central bank decide to take"forceful action" last month to combat the economic damage of the outbreak.Australian shares are also set to rise today with the ASX SPI 200 index upThe latest minutes from two emergency meetings held last month by the Federal Reserve show officials were increasingly concerned about the rapid spread of the virus.

The Dow Jones index surged nearly 800 points in late trade this morning after US Democratic Party presidential candidate Bernie Sanders dropped out of the race. That clears the way for a November election between former vice-president Joe Biden and Republican President Donald Trump.

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