Australian shares are pointing to a lower open, even as Wall Street is rallying in anticipation of the Federal Reserve lifting its key interest rate range by 75 basis points.
On bitstamp.net, bitcoin was 8.7 per cent lower to $US20,622.19 near 3.10am AEST; it earlier traded below $US20,200.The yield on the US 10-year note eased 6 basis points to 3.41 per cent near 1.10pm in New York.The spot price of iron ore continued to ease, and it’s poised to slip below $US130 a tonne. The latest decline came as benchmark Shanghai steel futures fell, with rebar extending losses to a fourth session, as worries grew that the rainy season would slow construction activity in China.
“Just given the volatility, you know, even in two weeks, when you’re having moves like we’re having in the last few days or so, that number could obviously fluctuate,” he said, adding corporate activity was up about a third for the second quarter. Retail sales are mostly goods, and are not adjusted for inflation. Sales rose 8.1 per cent on a year-on-year basis and are well above their pre-pandemic trends.
After an unscheduled meeting, the ECB said it would skew reinvestments of maturing debt to help more indebted euro zone members and would devise a new instrument to stop a fragmentation of the bloc’s bond market.
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Source: FinancialReview - 🏆 2. / 90 Read more »
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