FX.co ★ Australia Stocks Poised for First Monthly Drop in 6 Months

Australian shares edged 17 points, or 0.2%, higher to 8,726 in Wednesday morning trade, extending gains into a third consecutive session as strength in consumer durables, technology, and commercial services buoyed sentiment. Additional support came from firmer U.S. equity futures after New York Fed President John Williams’ comments tempered fears of further interest rate hikes. Domestically, the Reserve Bank reiterated its readiness to respond to changing economic conditions, underscoring its dual mandate of price stability and full employment. Among major names, BHP Group and Rio Tinto advanced 0.8% and 0.4%, respectively, while Northern Star Resources jumped 6.1%, Evolution Mining climbed 1.7%, and Goodman Group rose 1.3%. Despite the latest rebound, the market remains on course for its first monthly decline in six months, currently down about 3.9%, as persistent inflation and the drag from higher borrowing costs weigh on sentiment. Investors now look ahead to August inflation data due later today, as well as trade figures set for release in the coming days.