ASX 200 Poised for Fresh Record Highs as Iron Ore and Oil Producers Remain in Focus
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The Australian stock market, represented by the ASX200, is expected to make another attempt at surpassing its all-time high this week. ASX Futures suggest a 0.1% rise at the opening, as the market remains 76 points short of the record set earlier this month. The steady stream of economic news paints a picture of a 'Goldilocks' scenario, with moderate economic growth, low unemployment, and declining inflation. Central banks are expected to continue their course towards rate cuts this year. Iron ore and oil producers, including NRW Holdings Ltd and Perenti Global Ltd, will be in focus as both commodities saw a dip in prices over the weekend. Australian 10-Year rates were at 4.01% .
Last week, the ASX200 experienced its heaviest weekly fall since September, closing 2.25% lower at 7,670. Loss...
#newstr #Asx200 #IronOre #OilProducers #RateCuts