Australian shares are poised to rise, tracking a positive turn in afternoon trading in New York as investors await the release of US December CPI early on Thursday AEDT. The data will provide further insight on the outlook for the Federal Reserve’s rate-cutting cycle.

“We expect a continuing trend of disinflation, albeit at a more measured pace than previously observed,” LPL Financial chief economist Jeffrey Roach said. “This slowdown in progress reflects the complex economic landscape we find ourselves in as we move further into 2025.”