The Australian sharemarket is set to open higher after US inflation data all but cemented a rate cut by the US Federal Reserve next week.
ASX futures are up 41 points, or 0.5 per cent, near 7.45am and the Australian dollar took another beating overnight, dropping to a one-year low at US63.70¢.
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-alphabet-and-tesla-power-nasdaq-to-record-high-20241212-p5kxry