Local shares appear poised to snap a six-session losing streak as shares in Europe and the US surged higher, bolstered by a rebound in the price of oil and optimism that the US economy is strong enough to withstand the first interest rate increase in almost a decade.
In addition, Reserve Bank governor Glenn Stevens issued an upbeat appraisal of Australia's economy, declared signs of rising jobs growth to be genuine and downplayed the need for more official rate cuts to lower the local currency.
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Elise Shaw writes on Markets specialising in Equity Markets, Commodities, Mining. Based in our Sydney newsroom, Elise has over 25 years experience as a finance and markets journalist and editor. Connect with Elise on Twitter.
