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The ASX is set to rise a fifth of a percent on Thursday according to futures around 8.30am Sydney time.
Overnight, the US Federal Reserve made its latest interest rate decision; keeping rates on hold but signalling a September cut is still likely.
That could cause interesting side effects down under, especially if the RBA decide to hike rates next week. While local trimmed mean inflation came in just under 4 percent on Wednesday, it’s still at 3.9 percent, which is more or less the same thing as four percent.
Whether the RBA hikes rates at its next meeting is, for all intents and purposes, a 50/50 decision.
Looking at the ASX,
Perth Basin explorer and producer Strike Energy (ASX:STX) has issued an update to market.
The company has awarded a new gas engine contract to Clarke Energy.
Maenwhile, Besra Gold (ASX:BEZ) has beefed up its geotechnical acumen.
The company has appointed an “experienced mining professional.”
Finally, Avita Medical (ASX:AVH) has given the market an idea of upgrades to its healthcare offerings.
The company has expanded its portfolio with a “unique dermal matrix.”
In forex, the Aussie is buying 65 US cents.
In commodities, brent crude has returned to $81 dollars per barrel following Middle East tensions; gold has jumped to $2,447 dollars per ounce and iron ore is fetching nearly $106 per tonne at Singapore.
US natgas futures are just over $2 per gigajoule.
That’s Market Open, I’m Jonathon Davidson, we’ll be with you later in the trading day for an update.
