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ASX 200 lifts 1.2% at the open as global rate cut speculations grow

Published Dec 04, 2023 09:28
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Investing.com - The Australian Securities Exchange was up by 1.2% after the first 30 minutes of trade on Monday as market observers forecast the Reserve Bank of Australia (RBA) to maintain steady interest rates throughout 2023. This conjecture comes amidst growing belief that the era of interest rate hikes by central banks worldwide might have reached its end.

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Ahead in the week, market participants will be closely monitoring local retail sales, current account data, the RBA's rate decision and statement, GDP, building approvals and trade balance.

In the US, factory orders, Markit and ISM services PMIs, JOLTs job openings, ADP nonfarm employment change, trade balance, nonfarm productivity, jobless claims, nonfarm payrolls and unemployment rate will also be closely watched throughout the week.

On the bond markets, Australia 10-Year rates were at 4.424% while 2-year rates were at 4.097%.

ASX 200 lifts 1.2% at the open as global rate cut speculations grow
 

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