Business
Australian dollar climbs to three-year high, with ASX to open flat as Nasdaq sinks on tech sell-off – ABC News
Surging oil, gold and iron ore prices boost the Australian dollar above 79.2 US cents, its highest value since February 2018. Wall Street tech stocks get sold off,…
Australian shares are expected to open slightly lower after Wall Street’s major technology stocks were heavily sold off, while commodity prices have continued to surge.
Key points:
- The ASX 200 has risen 2.9pc since the year began
- Australia’s 10-year bond yield has jumped to 1.65pc (back to pre-COVID levels)
- The Nasdaq was dragged down by Tesla (-8.6pc), Apple (-3pc) and tech-related stocks overnight
ASX futures were down 13 points (-0.2pc) at 6,700, by 9:30am AEDT.
The Australian dollar went up (+0.6pc)…
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