CORRECTION (2026-07-12): An earlier version of this article included a key point and body line describing a SpaceX bond offering drawing ~$130bn in bids. That material has been removed and adjacent wording lightly adjusted for readability; the substance of the article is otherwise unchanged. Corrected on 2026-07-12.
Australian shares are poised to open higher, tracking gains in US markets, while the Australian dollar has weakened significantly against the US dollar, hitting its lowest level in a year.
The divergence highlights a risk-off sentiment in currency markets contrasting with equity resilience in the region.
The semiconductor sector faces headwinds from a broader selling wave in US technology stocks, with the Nasdaq sinking on renewed pressure.
This tech-led weakness is expected to weigh on local semiconductor holdings despite the broader positive bias for the ASX 200.
The euro also weakened against the greenback, reinforcing the dollar’s broad-based strength.