ASX set to follow Wall Street higher after US inflation data as Iran naval blockade resumes
The Australian share market is likely to rise in morning trade after weaker-than-expected US inflation figures boosted Wall Street and reduced the likelihood of the Federal Reserve lifting interest rates. The move comes as the US resumes its naval blockade on Iran.
The Australian share market is likely to rise in morning trade, a move driven by weaker-than-expected US inflation figures that boosted sentiment on Wall Street.
The softer inflation reading reduced the likelihood of the Federal Reserve raising interest rates, lifting investor appetite. The development coincides with the US resuming its naval blockade on Iran, meaning markets are pricing in both the inflation data and the geopolitical development simultaneously.
Analysts on the ASX say they will be watching both the trajectory on Wall Street and the impact of Middle East tensions on commodity prices closely in the coming trading session.
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