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Australian shares are set to open slightly higher on Thursday, tracking Wall Street gains, after the Federal Reserve indicated a strong likelihood of a US interest rate cut by the end of July.

The local share price index futures rose 0.075pc, a 54.8-point discount to the underlying S&P/ASX 200 index close.

The benchmark rose 0.4pc to 6,689.80 on Wednesday.

New Zealand's benchmark S&P/NZX 50 index inched up 0.1pc in early trade.

Copyright Reuters, 2019

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