Live: ASX to fall following sea of red on Wall Street

The Australian share market is forecast to open on a downward trajectory in early trading, as major exchanges in Wall Street report a decline. This follows a period of declining prices for Brent Crude oil, with the price surpassing $US106 per barrel. Our business reporters will provide updates on today's financial market developments through their live blog.

It is important to note that this commentary is not intended as investment advice. The Reserve Bank of Australia (RBA) has reiterated that inflation remains a concern, meeting periodically to consider further interest rate hikes. This potential rate increase exacerbates homeowners' financial strain and contributes to the overall high inflation rate.

The RBA has implemented three interest rate hikes this year, and economists anticipate another in the upcoming months. Business editor Michael Janda will discuss this complex issue in his analysis, comparing it to an old health remedy. For a recap of yesterday's finance headlines, Alan Kohler will discuss the situation with Brent crude oil, which has once again surpassed a significant threshold.

Business reporter Adelaide Miller will guide you through the morning's market insights in the markets blog, covering the latest developments in business, finance, and economics from around the world. To begin, the ASX is expected to open lower later this morning, with the ASX 200 Futures indicating a decline of -0.2% to 8,731 points.

This follows a trend of declining prices across Wall Street at the close. The Australian dollar is currently trading at 71 US cents. Please take a moment to enjoy your morning coffee while we continue to provide updates on the markets.