Australian shares are set to tick higher after the US Federal Reserve held interest rates steady.
S&P/ASX 200 futures were up 22 points, or 0.3 per cent, to 8882 near 6am (AEDT).
Fed chairman Kevin Warsh told reporters inflation remained too high, but provided limited further guidance. Traders are pricing in a rate hike at the US central bank’s next meeting in December.
Wall Street wavered after the announcement on Wednesday (Thursday AEDT). A key index of chipmakers ticked higher ahead of after-market results from Microsoft and Alphabet that will test appetite for the artificial intelligence trade.
Oil gained, stoking inflation concerns again and sending Treasury yields higher.
Stocks climbed in London after the UK’s new chancellor, John Healey, delivered a low-key budget. Gilts advanced, adding to perceptions of the country as something of a haven compared to the crisis-stricken major eurozone economies.