Stocks in the US and Europe were higher overnight which has given a solid lead to local markets in overnight trade and the positive tone on Wall Street will likely resonate locally with Australian stocks expected to open strongly. Overnight the June SPI 200 futures contract on the ASX is up 27 points to 5409 while the Aussie dollar is a little lower at 0.9245 which will likely help at the margin as well. Key to the positivity was the data from the US which showed a big lift in automobile sales
Reported by FXstreet.com 2 hours ago.
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