Sydney, July 23, 2007 (ABN Newswire) - Australian shares could struggle upon opening today, following a dip on Wall Street at the end of last week, and as fresh concerns about the US subprime crisis weigh on investors. However, firmer base metal prices could underpin the big miners.
On Friday, the ASX was up 38 points finishing at 6,422. On the futures market the SPI200 is down 42.
Turning to currencies, firmer base metal prices are providing support for the Australian dollar in offshore trade this morning. At 8:35 AM the Aussie dollar is buying 87.93 US cents, on the crosses the dollar is buying 106.74 yen, 63.54 Euro cents, and 42.78 British pence
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