The Australian Securities Exchange (ASX) is anticipated to see a positive opening following the upward trend on Wall Street, driven by better-than-expected inflation figures in the United States. Despite escalating tariff tensions initiated by US President Donald Trump, the market sentiment has been soothed by the recent data. As of 7:25 am AEDT, ASX futures indicate a rise of 18 points or 0.23% to reach 7,799 points. Concurrently, Wall Street experienced mixed results with the Dow Jones down by 0.20%, the S&P 500 up by 0.62%, and the Nasdaq up by 1.35%.

In Europe, major indices like the FTSE 100, CAC 40, and DAX demonstrated positive movements, showcasing the global impact of the US inflation data. The price of spot gold surged by 0.59% to US$2,933.05 per ounce, while oil prices also witnessed an increase with Brent rising by 2.03% to US$70.97 per barrel and US WTI up by 2.19% to US$67.70 per barrel. The Australian dollar strengthened by 0.35% against the US dollar, trading at 63.20 US cents, while Bitcoin saw a 0.28% increase to US$83,126.30.

The positive market sentiment was further fueled by the encouraging economic indicators in the US, where consumer prices rose by a lower-than-expected 2.8% in February, marking the smallest increase since 2021. This data alleviated concerns regarding inflation and raised hopes that the US Federal Reserve might consider reducing its key interest rate later in the year. The combination of reduced inflationary pressure and renewed investor confidence led to a surge in tech stock purchases and overall market optimism.

Investors are advised to keep a close eye on the upcoming release of the Monthly Business Turnover data for January by the Australian Bureau of Statistics at 11:30 am, as it may provide further insights into the economic landscape. The positive performance of the Australian Securities Exchange amidst the global economic shifts highlights the interconnectedness of financial markets and the importance of monitoring international developments for informed investment decisions.