ASX: Australian shares to rise as benign PPI data reinforces US interest rate cut hopes; CBA Commonwealth Bank, AGL, Computershare to report earnings

📆 2024/08/13 23:30:00
📰 FinancialReview

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Better-than-expected producer inflation data sent Wall Street soaring overnight; oil snaps rally; CBA, AGL to report earnings

Bond traders who’ve endured some dramatic swings lately are betting on big gains heading into Wednesday’s key inflation report. US Treasuries rallied sharply at the start of last week, sparked by broader market upheaval and mounting concerns that a softening economy may force aggressive Federal Reserve interest-rate cuts.

On Tuesday, US bonds advanced across the board after US data showed producer prices rose less than forecast in July, adding to evidence that inflation is under control enough to allow the Fed to start monetary easing next month. A report due Wednesday on consumer prices is expected to provide further support.

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