Australian shares are poised to open higher, tracking a broad advance in New York after US Federal Reserve governor Christopher Waller said he is in no rush to lift US interest rates.
Global bond yields fell, and technology stocks rallied on Waller’s comments. The probability of a quarter of one percentage point US rate rise this month fell to 50.4 per cent from 63.2 per cent the previous day. It had neared 70 per cent earlier this week.
ASX 200 futures were up 25 points or 0.3 per cent to 9037. The S&P 500 closed 1.1 per cent higher, as consumer discretionary paced gains in eight of the 11 sectors.
“If there is continued progress toward our 2 per cent goal, then I am willing to support holding the policy rate at its current level,” Waller said at an event hosted by Reuters. “But if inflation comes in hot, I would consider a rate hike.”
The US is set to release August inflation data next week. The yield on the US 10-year eased by 1 basis point to 4.77 per cent near 5pm in New York, paring an earlier move. Yields fell more sharply in Europe with the UK’s 10-year dropping 10 basis points to 5.13 per cent. There were five basis point drops in France, Italy, Spain, Portugal and Greece.
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-after-fed-governor-waller-calms-us-rate-rise-worries-20260904-p60uc4