The Australian share market looks poised to follow the rally on overseas markets overnight, with Wall Street touching fresh records.
AUD: 67.33 US cents, 51.96 British pence, 61.94 Euro cents, 74.12 Japanese yen, $NZ1.042Europe: FTSE 100 +0.5pc at 7,534, DAX +0.9pc at 13,749, CAC +0.8pc at 6,104, Euro Stoxx 50 +0.4pc at 3,520The market optimism came as investor fears about the coronavirus outbreak eased, with reports the pace of its spread had slowed.
The Australian dollar rose on the improved market sentiment, as did oil prices, while the price of spot gold edged lower. However, economists are continuing to assess the potential effects of the outbreak on the Chinese economy. "The unexpectedly severe virus outbreak has put the brakes on the slight improvement in economic activity following," the ANZ economists wrote in a note.
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