The Bulls edged ahead in another tense session overnight as US lawmakers continued to make the right noises with respect to further fiscal stimulus for the US economy. There's nothing solid yet, so the wait continues.
Base metals prices took a small breather, but Iron Ore continues its charge higher, and precious metals were also up on the back of further weakening of the US dollar. The Australian dollar has edged to over 2-year highs.
The Australian economy posted strongest quarterly growth numbers as it bounced back from the Coronavirus pandemic. US employment data was disappointing.
Where does all of the above leave us? Well, our futures closed about 0.3% higher indicating a firmer open for the local bourse.
We’ll investigate all of this and more in today’s Australian Market Preview.
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