CommSec Market Update

Morning Report 22 July 24: Aussie investors on edge as US President Joe Biden withdraws


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Investors are cautious following President Joe Biden's withdrawal from the presidential race. The US dollar is strengthening as investors anticipate interest rate cuts. Technology stocks have plummeted due to the global cyber outage, while safe-haven assets are in focus amidst US political uncertainty. In other news, oil prices have dropped to their lowest levels since June, copper has hit a three-month low due to China's economic gloom, and Aussie miners are on edge as commodity prices retreat.

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