Australian shares are poised to begin the week with a bang, taking direction from a broad rally in New York and expectations that there’s room to run into the end of the month, quarter and first-half of 2022.The local currency was up, within reach of US69.50¢; the Bloomberg dollar spot index slipped 0.3 per cent.
“While that often plays out as a number of initial failed rallies that pulls back to retest lows, it’s right to consider buying dips in areas such as healthcare and parts of technology that have started to stabilise.”No local data on Monday. The highlight this week will be May retail sales on Wednesday.
More than 19 billion shares changed hands in US exchanges, compared with the 12.9 billion daily average over the last 20 sessions. “The Riksbank only has three more policy meetings left this year, and with the policy rate only at 0.25 per cent while inflation and inflation expectations remain uncomfortably high, this should warrant another big hawkish shift at the coming meeting.”Deutsche Lufthansa is cancelling a total of 3100 flights after a wave of coronavirus infections worsened staffing shortages, adding to Europe’s travel chaos as the crucial summer vacation period gets under way.
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