July 22 (Reuters) - Australian shares are expected to open lower on Monday, following Wall Street's decline on Friday after a newspaper report trimmed hopes of an aggressive interest rate cut by the Federal Reserve at the end of the month.
According to the Wall Street Journal report, the Fed is not prepared to make a bigger 50-basis-point cut but may make further rate cuts in the future given concerns about a decline in global economic growth and uncertainty about trade. .N
The local share price index futures YAPcm1 fell 0.4% or 26 points to 6,616, an 84.3-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.8% on Friday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.2% in early trade.