Australian shares are expected to open on a high note again, despite a mixed close on Wall Street.
The S&P and NASDAQ nudged slightly upwards. The New York Stock Exchange and Dow Jones dipped.
It comes as the US Federal Reserve pressed pause on its current interest rate hike cycle – a welcomed break after ten consecutive increases. While the rate will hold at five per cent to 5.25 per cent, Federal Chairman Jerome Powell warned not to rule out further raises.
Meanwhile, Tesla stocks broke its record 13-day winning streak. The electric vehicle giant closed just shy of one per cent down.
Back home, Australia’s unemployment figures are due to be released later this morning.
The Commonwealth Bank (CBA) is expecting that the unemployment rate will remain steady at 3.7 per cent, with around 20,000 new jobs to be added.
Data on consumer inflation expectations and population growth are due today as well.
The Australian dollar edged higher. One Aussie dollar is buying 68 US cents and 54 British pence.
Iron Ore climbed 2.5 per cent on news China is considering a stimulus package for its real estate sector. The commodity is considered key to the building and construction industry.
Safehaven gold continued its upward trend.