Australian shares to open higher tracking steady global markets
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The news: The Australian sharemarket is set to open higher, tracking optimistic global markets as Donald Trump was sworn in as the US President.
The numbers: Updated at 7:30am AEDT:
- ASX futures: up 21 points or 0.25% at 8,348 points
- Wall Street: Closed
- Europe: FTSE 100 up 0.18%, CAC 40 up 0.31%, DAX up 0.42%
- Spot gold: up 0.18% to USD2,708.21 per ounce
- Oil prices: Brent down 1.06% to USD79.93/barrel, US WTI down 1.27% to USD76.89/bbl
- AUD: up 1.2% at 62.74 US cents
- Bitcoin: up 2.59% to USD103,887
The context: US markets were closed for the Martin Luther King Jr Day public holiday. However, European stocks hit a three-month high before closing nearly flat on news that Trump would refrain from increasing tariffs on US trading partners as soon as he is inaugurated. In response, the US dollar lost around 1% while the euro gained 1.2%.
The source: Bloomberg
