Australian shares are set to open higher, as the immediate threat of a US-triggered tariff war faded with President Donald Trump’s pivot to his vision for the Middle East.
ASX futures rose 0.8 per cent, or 69 points, on Thursday, suggesting the S&P/ASX 200 would extend gains in the previous session. The Australian dollar rose 0.5 per cent as the US dollar fell. The US ten-year Treasury yield fell to 4.42 per cent.
Oil prices slumped overnight after US President Donald Trump attempted to downplay his claim that he wanted to “blow Iran to smithereens” and wanted to work with the nation on a “nuclear peace agreement”. Trump also proposed that the US seize control of Gaza. Brent crude fell below $US75 a barrel. Gold hit another record high following a volatile session in equities trading.
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-alphabet-drags-on-wall-street-20250206-p5l9y5