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ASX to tumble ahead of RBA deputy's interest rate call

Anastasia Santoreneos
·2-min read
ASX to tumble ahead of RBA deputy's interest rate call
ASX to tumble ahead of RBA deputy's interest rate call

Good morning.

Here’s Yahoo Finance’s Tuesday morning wrap.

The ASX is expected to fall at the open, with the SPI200 Futures Index down 78 points to 5,746, indicating a tough start for the local bourse.

At session lows on Monday, the benchmark ASX200 hit its lowest level since June, touching 5,808.2, before climbing to finish at 5,822.6 points.

In the US, Wall Street’s main indexes closed lower over concerns about new lockdowns in Europe and delays in stimulus from Congress.

The Dow Jones Industrial Average fell 509.72 points, or 1.84 per cent, to close at 27,147.7, the S&P 500 lost 38.41 points, or 1.16 per cent, to 3,281.06 and the Nasdaq Composite dropped 14.48 points, or 0.13 per cent, to 10,778.80.

Will interest rates move? Reserve Bank deputy governor Guy Debelle will address an Australian Industry Group conference on Tuesday on the economy and monetary policy.

The speech is expected to clarify whether the central bank intends on taking any further interest rate action. The official cash rate is 0.25 per cent.

Deal in doubt: The tentative deal between TikTok and Oracle is on rocky ground, with both President Donald Trump and the Chinese government expressing doubts of the security of the deal.

Here’s what the deal could mean for investors, and what’s next.

‘Tremendous opportunities’: Covid-19 has been tough for many Australians, with more than 1 million Aussies unemployed at the peak of the pandemic.

Fortunately, not every industry is suffering, Finder CEO Fred Schebesta said, and there are s

Have a great day.

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