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Australian Shares Limp Higher Ahead of Rate Decision
Futures point to a muted start as traders brace for the RBA’s fourth rate hike this year and Wednesday’s inflation report.
- The Australian sharemarket is poised for a cautious, flat start on Monday as investors prepare for a fourth interest rate rise this year, with ASX futures up 3 points, or 0.03 per cent, at 8720 on Saturday.
- Traders are pricing in a 95 per cent chance the Reserve Bank will lift the cash rate to 4.6 per cent on Tuesday, a fourth hike aiming to address sticky inflation.
- Australia's local bourse finished its fourth losing week on Friday as oil prices and bond yields rose, though Wall Street regained strength after Brent oil dropped 2.8 per cent to $US97.44.
- Inflation data, due Wednesday, follows RBA Governor Michele Bullock's warning of "materialising" upside risks, as households face pressure from potential further rate increases.
- Consumers are bracing for higher inflation in the coming year while global markets navigate uncertainty from high yields, expensive oil, and US-Iran negotiations following a 15-year peak in bond yields.
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12 Articles
12 Articles
Sydney Morning Herald+3 Reposted by 3 other sources
ASX set for a flat start to the week ahead of RBA’s rate decision
The Australian sharemarket is set to start the new trading week on a cautious note, with futures indicating a flat open ahead of the Reserve Bank’s likely decision to raise interest rates to a 15-year-high on Tuesday.
·North Sydney, Australia
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Investors get defensive as ASX 200 drifts to a 15-week low
S&P/ASX 200 Index (ASX: XJO) consumer staples and healthcare were the only two sectors in the green last week. The traditionally defensive sectors found favour during tough trading as investors braced for an interest rate hike on Tuesday. The benchmark index fell 0.76% over the week to close at 8,665 points, after hitting a 15-week intraday low on Friday. Traders are pricing in a 95% chance of the Reserve Bank (RBA) raising the cash rate to…
Coverage Details
Total News Sources12
Leaning Left4Leaning Right2Center3Last UpdatedBias Distribution45% Left
Bias Distribution
- 45% of the sources lean Left
45% Left
L 45%
C 33%
R 22%
Factuality
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