SYDNEY, Feb 4 (Reuters) - Australian shares have a chance at a much-needed rebound on Thursday after a sharp reversal in the U.S. dollar boosted commodity prices and gave a late lift to Wall Street.
The local share price index futures YAPcm1 rose 0.7 percent to 4,857. That was still a 19 point discount to the cash index but missed much of the late rise on Wall Street. .N
The S&P/ASX 200 index .AXJO had a tough session on Wednesday, shedding 2.3 percent to 4,876.8 in its largest one-day drop since last September.
New Zealand's benchmark S&P/NZX 50 index .NZ50 edged up 0.13 percent to 6,141.22.
For a summary of overnight action across global markets, double click on AU/CALL
For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB