FX.co ★ Australian Shares Rise After RBA Decision

On Tuesday, the S&P/ASX 200 Index advanced by 1.04%, closing at 7,925. This uptick reversed the losses incurred in the previous session. This positive movement came in the wake of the Reserve Bank of Australia's decision to maintain the cash rate at 4.1%, a decision in line with market expectations. Notably, the central bank omitted any reference to caution in regard to potential interest rate reductions, suggesting a slight shift towards a more dovish stance. Reinforcing these dovish interpretations, recent data indicated that Australian retail sales experienced a slower-than-anticipated increase in February, reflecting subdued domestic consumption. Australian stocks also emulated the recovery seen in Wall Street overnight as investors awaited more information on U.S. President Donald Trump’s proposed tariff strategies prior to his "Liberation Day." The rally was driven by significant gains in heavyweight mining and energy sectors, buoyed by rising commodity prices. Leading the charge were BHP Group, Fortescue, and Woodside Energy, each posting gains of 1.8%, 1.8%, and 1.7%, respectively.