Australian shares are set to edge higher, bolstered by gains on Wall Street. Tesla, Alphabet pace mega-cap’s higher.
Australian shares are poised for a modest opening gain, tracking a positive start to the week in the US. The key focus on Tuesday is the Reserve Bank’s policy statement at 2.30pm and governor Michele Bullock’s press conference an hour later. No rate change is expected.
In a note, Goldman Sachs’ chief US economist Jan Hatzius said the unexpected strength in inflation to start the year “prompted us to soften our baseline Fed call to three 25 basis point cuts this year in June, September, and December. Still, our conviction in a soft landing remains high”.
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