Australian shares are poised to drop, as global markets prepare for more inflation data out of the world's biggest economy.
Australian shares are poised to drop as global markets prepare for more inflation data out of the US.That was after Wall Street's two majors dipped and the Nasdaq lost 1.2 per cent, as tech stocks were hit by rate hike fears.
"The AUD is a touch lower as the USD recovered some strength amid higher US bond yields," ANZ said in a statement.The inflation data out of the world's biggest economy could signal either price hikes are slowing or that they are continuing unabated. High inflation could trigger further rate hikes, although the US Federal Reserve has already been hinting that it will not go too hard.Meanwhile in Australia, one of the biggest banks has put out its results.
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