Australian shares are set to open higher after the S&P 500 hit a record. The $A has rebounded, oil has extended its rally and the US 10-year yield has plunged.
Energy ICE Brent had another go of trying to break above the US$70/bbl mark, and while the market briefly traded above this level, it failed to settle above and closed more than 1% down on the day. The catalyst for the selloff were reports that the US and Iran had made progress on nuclear talks, .
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