Australian shares are poised to catch New York’s pre-CPI data rally. Earnings in focus. $A higher. Follow updates here.
Australian shares are poised to open higher amid optimism in New York that the pending January CPI data will bolster bets that the peak in interest rates is near.Tuesday’s reporting schedule: Ansell | Breville | Challenger | Computershare | CSL | Dexus | James Hardie - quarterly | SG Fleet | Seven West Media | Sims | TempleTesla -1.4% Apple +1.4% Amazon +1.2% Microsoft +2.9%
The local currency was 0.6 per cent higher; the Bloomberg dollar spot index edged 0.1 per cent lower.The yield on the US 10-year note slipped 2 basis points to 3.71 per cent at 2.57pm in New York. The yield on the two-year bill was 4.53 per cent.P 500 was trading at 4124.“Client conversations have shifted from how much downside is left to when is that downside coming? Speculative bear market rallies can have that effect.
“With equity markets showing some real signs of exhaustion last week, we think the risk-reward is as poor as it’s been at any time during this bear market.”
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