FX.co ★ Australian Shares Hit Over One-Month High

The S&P/ASX 200 increased by 0.6% to reach 8,623 on Tuesday, recovering from a slight dip in the previous session and marking its highest point in over a month. Investor sentiment improved after U.S. President Trump indicated a willingness for further trade discussions with the European Union and other significant partners, ahead of the impending 30% tariffs set to be implemented on August 1. Although Trump's communications to various trading partners stated the upcoming tariff increases, his comments indicate a possibility for diplomatic negotiation. Domestically, sentiment was further uplifted by data revealing that the Westpac-Melbourne Institute Consumer Sentiment Index rose by 0.6% month-over-month to 93.1 in July 2025, subsequent to a 0.5% rise in June. On the corporate front, Block, Inc. saw a 5.5% increase, Wisetech Global Limited climbed 2.2%, and National Australia Bank rose by 1%. Conversely, attention is likely to turn to Woodside Energy Group and Santos, as oil prices decrease following U.S. threats of secondary sanctions on countries purchasing Russian oil.