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The Australian share market is expected to begin the week on an upbeat note.
As per the latest ASX Futures, the benchmark ASX 200 index may open on Monday 96 points or 1.5% higher.
On Wall Street, the Dow Jones rose 1.05%, the S&P 500 surged 1.05%, and the NASDAQ ended 0.9% higher.
The ASX 200 is likely to commence the week on an upbeat note after Wall Street closed on a strong note last Friday.
As per the latest ASX Futures, the benchmark ASX 200 index may open on Monday 96 points or 1.5% higher. Last Friday, the index declined 0.4% to 6,539.9 points.
Meanwhile, all eyes would be set on the Reserve Bank of Australia’s (RBA) 5 July monetary policy meeting. According to economists, the RBA is expected to lift official cash rate from to 1.35% from 0.85% as it continues with its policy tightening approach.
In Europe, the Stoxx 50 fell 0.2%, the FTSE was flat, the DAX surged 0.2%, and the CAC ended 0.1% higher. The manufacturing activity in euro zone saw its first decline in June since the initial wave of COVID-19 in 2020.
MSCI's world stocks index rose 0.4%.
The bond yields fell as investors anticipated that the US Federal Reserve would push the inflation down to near its target rate.
The yield on 10-year note closed down 8.5 basis points at 2.889%. The two-year yield fell 8.8 basis points to 2.839%.
The US dollar index, on Friday rose 0.36% against a basket of currencies to 105.12.
Oil prices rose amid concerns of likely shutdowns in Norway and supply outages in Libya.
Gold prices declined as investors’ appetite for yellow metal decreased amid rising rates.
Three-month copper on the London Metal Exchange fell 2.6% to US$8,047 a tonne amid concerns about a possible recession hitting metal demand.
Similarly, iron ore's most-traded September contract on China's Dalian Commodity Exchange closed 6.9% lower.
Meanwhile, bitcoin witnessed its biggest fall in a quarter over the three months ended June. It last fell 2.16% to US$19,494.40.
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