By Sue LanninWall Street has rallied overnight as investors await the latest inflation numbers out of the US.
The price of living reached a 40 year high last year, and the Federal Reserve made steep interest rate rises to bring down inflation. The US Consumer Price Index is expected to increase by 0.4 per cent in January for an annual rise of 6.2 per cent. The Dow Jones index is up 1 per cent to 34,208 at 7:30am AEDT, while the Australian dollar is higher at around 69.65, up 0.7 per cent.
And later we will get a snapshot of how businesses fared over January, the first restriction free festive season in three years when the National Australia Bank releases its latest monthly business survey.
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