Australian shares are expected to open higher as commodities recover. Iron ore and oil prices have increased. The Dow Jones Average rose in New York, while the S&P 500 and Nasdaq Composite closed slightly lower. The pending October CPI report is a key focus for investors. Economic momentum has slowed, supporting softer inflation. Forecasts suggest core inflation will continue to rise. Expectations are for core inflation to remain in a range of 0.2% to 0.3% month-over-month.
Australian shares are poised to open higher with commodities recovering. Iron ore has risen through $US128 a tonne. Oil is eyeing $US83 a barrel. The Dow Jones Average edged higher in New York to start the week, though both the S&P 500 and Nasdaq Composite finished marginally down, with the pending October CPI report a key focus. “We are finding more reasons to be constructive into year-end than we were a few weeks ago,” Fundstrat Global’s Tom Lee said in a note.
“Namely, economic momentum has slowed in a way that has become supportive of softer inflation.” TD Securities said its forecasts for the October CPI report suggest core inflation gained additional speed for a third month straight for an above-consensus 0.36 per cent month-over-month increase, from 0.32 per cent in September. “We expect core inflation to stay in a 0.2 per cent-0.3 per cent m/m range between now and the end 24Q1, partly reflecting less drag from the core goods segment and stickier core services ex-housing inflatio
Australian Shares Commodities Iron Ore Oil Dow Jones Average S&P 500 Nasdaq Composite October CPI Report Inflation Economic Momentum Core Inflation
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