Australian shares are set to edge higher, with futures reversing early losses after reports that the EU and US are nearing a trade deal with 15 per cent tariffs as a key component.<\/p>\n
That tariff level would match one President Donald Trump said the US had reached with Japan the previous evening.<\/p>\n
The Dow paced gains higher in New York. The S&P 500 and Nasdaq also advanced though investors are waiting for results from Alphabet and Tesla after the closing bell at 6am AEST Thursday.<\/p>\n
Market highlights<\/p>\n
ASX futures are pointing up 3 points or 0.03 per cent to 8701.
All US prices as of 3.55pm New York time.<\/p>\n
AUD +0.7% to US66.01\u00a2Bitcoin -1% to $US118,473On Wall St: Dow +1.1% S&P +0.7% Nasdaq +0.6%VIX -1.00 to 15.50Gold -1.1% to $US3394.95 an ounceBrent oil -0.2% to $US68.45 a barrelIron ore -0.7% to $US104.75 a tonne10-year yield: US 4.39% Australia 4.29%Today\u2019s agenda<\/p>\n
Among corporate reports expected on Thursday: Fortescue, Coronado Global Resources, Insignia Financial, Karoon Energy, Lynas Rare Earths, Northern Star Resources, Sandfire Resources and Syrah Resources.<\/p>\n
Macquarie Group will host its annual general meeting, starting at 10.30am at its new headquarters in Sydney.<\/p>\n
RBA governor Michele Bullock will speak about \u2013 The RBA\u2019s Dual Mandate – Inflation and Employment \u2013 at the Anika Foundation in Sydney at 1.05pm.<\/p>\n
There will be a raft of manufacturing and services PMI reports released in Japan, France, Germany, the UK, the EU and the US.<\/p>\n
European Central Bank policymakers gather and are expected to vote to keep rates steady. President Christine Lagarde will host a news conference after the meeting concludes.<\/p>\n
Top stories<\/p>\n
PM lifts US beef ban, paves way for Trump tariff talks<\/a> | The move removes the key excuse used by the White House to impose heavy tariffs on Australian exports, setting the scene for fresh trade negotiations.<\/p>\n Beijing targeted Australia to send warning to US, says Morrison<\/a> | In an unusual appearance, former prime minister Scott Morrison told a US House committee that China aimed to use its economic power to challenge the world order.<\/p>\n ANZ raised concerns about ASIC investigator\u2019s aggressive interviews<\/a> | The probe into alleged bond market manipulation has dragged on for 18 months, and been a source of heightened tension between the bank and the regulator.<\/p>\n Chanticleer: Macquarie CEO\u2019s unusual move to avert pay strike<\/a> | The investment banking group was at serious risk of a first strike against its pay report. So CEO Shemara Wikramanayake hit the phones in a move that\u2019s surprised investors.<\/p>\n