FX.co ★ Australian Shares Hit Near 3-Month High

On Tuesday, the S&P/ASX 200 rose by 1.1% to reach 8,956, marking its peak level since October 2025. This upward momentum was primarily driven by the strength in materials stocks. Major mining companies led the charge, with BHP Group jumping 3.1%, Rio Tinto adding 2.1%, and Fortescue Metals Group climbing 0.7%. Gold producers also experienced robust gains; Newmont Corporation increased by 1.1%, Evolution Mining saw a rise of 0.7%, and Northern Star Resources grew by 1.8%. The rally in the materials sector was mainly fueled by a rise in commodity prices, especially gold, reflecting heightened demand for safe-haven assets. Investor focus is now shifting to crucial inflation data anticipated on Wednesday, which is expected to significantly influence the Reserve Bank of Australia's perspective on interest rates. Markets will be paying close attention to both the December monthly consumer price index (CPI) figures and the fourth-quarter trimmed mean inflation measure, the latter being the RBA's preferred metric for assessing underlying inflationary pressures.