Australian shares are poised to open lower, reflecting weakness in New York as investors await key US inflation data, which could disrupt expectations of a quarter point rate cut from the Federal Reserve next week.
ASX futures are down 27 points, or 0.3 per cent, near 8.30am. Overnight, the Australian dollar shed almost 1 per cent against the greenback as traders re-doubled hopes that an interest rate cut from the Reserve Bank was closer to hand than previously expected.
Source: https://www.afr.com/markets/equity-markets/asx-to-slip-a-sinks-after-rba-rethinks-the-rate-outlook-20241211-p5kxfi