Australian shares are set to lift as markets seek to recover from a volatile week in which Wall Street sold off but the IMF has issued a recession warning over rising US Fed rates.The local currency was down 1.2% at US63.02¢
US data due on Thursday is forecast to show that headline inflation came in at a hot 8.1 per cent year-on-year rate in September, but down from 8.3 per cent in August. Core inflation is expected to have risen to 6.5 per cent from 6.3 per cent previously. Chicago Fed President Charles Evans said inflation is much more persistent than the U.S. central bank initially thought.
11.30am - ABS data: August building approvals; August monthly household spending indicator; August overseas arrivals and departures.2.45pm - ASIC officials appear at Senate committee hearing.