Australian investors have reacted favourably to United States inflation data. -AAP Image
The Australian share market has bounced back from its two-day sell-off as cooling US inflation outweighed some hawkish commentary by the US Federal Reserve.
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The benchmark S&P/ASX200 index on Thursday finished up 34.2 points, or 0.44 per cent, to 7,749.7 while the broader All Ordinaries gained 39.4 points, or 0.49 per cent, to 8,002.5.
The Australian dollar was buying 66.43 US cents, from 66.13 US cents at Wednesday's ASX close.
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