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Australian shares are set to rise on Tuesday morning, ahead of a meeting of the Reserve Bank’s monetary policy board, which is widely expected to lift the cash rate to an 18-year-high.
S & P/ASX 200 futures were up 77 points, or 0.9 per cent, to 8943 near 3.30am (AEDT).
The local bourse is expected to follow gains on Wall Street, where all three major indexes rose in Monday trading. Stocks got a boost from oil prices, which tumbled by more than 6 per cent after Iran’s Supreme Leader opened the door for diplomacy in a rare public statement.
Tech stocks recovered some losses from last week’s rout, with Nvidia and Alphabet up around 2 per cent. Apple will report quarterly results after market close.
