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A hold from the Federal Reserve in the U.S. and plummeting iron ore prices will both keep Australian shares in the red heading into Thursday morning.
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ASX 200 futures point to a -0.13% drop before open, which tracks nearly all the leading Wall Street indexes – the S&P 500 and Dow Jones dipped -0.1% while the Nasdaq composite eeked out a similar gain the other way.
Things did stay near flat in the U.S., though, after Powell pledged two more cuts this year.
Things may swing more dramatically in Oz on jobs data we’ll get at 11.30am too.
Beyond that, traders will mull over how they feel about fresh housing price forecasts this morning: Property prices have been tipped to jump again in the next 12 months, with Sydney, +7%, and Melbourne, +6%, to balloon most.
And in company news, Metal Hawk (ASX:MHK) has been granted heritage approval at its Leinster South Project, which means long-pending earthworks can finally get underway ahead of a prepped drilling campaign.
Elsewhere, Woodside Energy (ASX:WDS) is still deep in discussions with Petronas over a new 15-year LNG supply deal that would start in the next few years.
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Looking at forex, the Aussie dollar is buying 65.1 US cents.
To commodities, which are in the greenback,
Iron Ore hasn’t recovered, down -0.2% more to $92.60 a tonne in Singapore,
Brent Crude is trading at $76.54,
Gold is trading at $3,379 per ounce, and,
US natgas futures are at $3.97 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
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