General
Australian shares to slip, Wall Street pulls back slightly from ‘irrational exuberance’
Australian shares are expected to open lower as global markets drop further from their record highs overnight.
ASX futures were down 26 points (-0.4pc) to 6,810, by 7:15am AEDT.
The Australian dollar rose (+0.2pc) to 77.66 US cents as the greenback was weighed down by disappointing job figures which pointed to a fragile economic recovery from the pandemic.
In local economic news, the Bureau of Statistics will release its preliminary estimate of how retail sales performed in January.
Economists from NAB and St George are forecasting a 1.5 and 2 per cent boost in local retail trade, respectively.
The US Labor Department’s latest report showed that initial claims for unemployment benefits rose unexpectedly to 861,000 last week (compared with…
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