Futures indicate the S&P/ASX 200 will fall 0.3 per cent at the opening bell, extending the previous week’s sell-off fuelled by China worries.
The Australian sharemarket is set to follow the Nasdaq lower on Monday as reporting season continues with results from BHP, Ampol, Woodside Energy, Coles, Charter Hall and Wesfarmers scheduled for this week.P/ASX 200 will fall 0.3 per cent at the opening bell, extending the previous week’s sell-off that was fuelled by concerns about China’s worsening economic outlook.
“There’s been a little bit of policy stimulus in China in recent times, but it hasn’t really been enough to make any difference.” he said. National Australia Bank economist Taylor Nugent says the closely watched event will be the “best chance to drive any material shift in market pricing as far as Fed expectations and yields is concerned”.
Dr Oliver said the conference came at a critical time for markets as they are “on edge” about whether central banks will have to keep rates higher for longer. “Investors will be looking to see whether chair Powell and, in particular [European Central Bank president] Christine Lagarde, will add to the hawkishness or whether they’re trying to push back against it.”New Zealand will release its second quarter retail sales volumes on Wednesday, with expectations for a muted gain in nominal spending.
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