Australian shares rise 0.2% ahead of RBA decision
Banks and gold miners supported the S&P/ASX 200 as investors awaited the Reserve Bank of Australia's policy meeting on Tuesday.
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Banks and gold miners supported the S&P/ASX 200 as investors awaited the Reserve Bank of Australia's policy meeting on Tuesday.
* Oil has continued to trend lower during Wednesday's APAC session as talks continue on the sidelines of this week's UN gathering. The fact negotiations are even taking place to facilitate Middle East energy shipments is driving optimism in markets but the situation remains very precarious. UST futures are higher, but
Australian shares closed flat on Monday, with gains in financials countered by losses in commodity stocks. Investors remained cautious ahead of an expected interest rate hike by the Reserve Bank of Australia next week. Financials rose 0.6%, while miners fell 0.7%. The S&P/ASX 200 closed unchanged at 8,731.90 points.
The Australian dollar steadied on Monday after two weeks of losses, hovering near multi-year highs on the New Zealand dollar and euro as markets priced in a fourth rate hike from the Reserve Bank of Australia this year to 4.6% next week. The Aussie was little changed at $0.7128, but remained near a 13-year top on the k
The Australian dollar rose toward $0.72 to a fresh three-month high as markets increased expectations for an RBA rate hike following hotter-than-expected July inflation.
ANZ on Australia and Central Bank Rate Expectations
**All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent) ***As always times are subject to change*** **Economic data** - 01:00 (FI) Finland Jun Consumer Confidence: No est v -10.5 prior; Business Confidence: No est v 3 prior - 02:00 (SE) Sweden May Trade Balance (