FX.co ★ ASX 200 Steady Ahead of Inflation Data

The S&P/ASX 200 opened nearly unchanged around 8,700 on Wednesday, pausing after a two-day upward trend, as investors anticipated forthcoming inflation data. Australia is scheduled to release the Q2 2025 Consumer Price Index (CPI) and June's Monthly CPI ahead of the Reserve Bank of Australia's (RBA) policy meeting on August 11–12. The Trimmed Mean CPI, the RBA's preferred measure, is projected to increase by 2.7% year-on-year and 0.7% quarter-on-quarter, which is slightly below the figures recorded in Q1. The Headline CPI is expected to rise by 0.8% QoQ and 2.2% YoY, while the monthly number is forecasted to remain steady at 2.1% YoY. Given the inflation rates falling within the target range of 2–3%, the possibility of further interest rate cuts by the RBA remains on the table. On the international trade front, uncertainty persisted as U.S. Commerce Secretary Howard Lutnick dismissed any delay to President Trump's tariff deadline set for Friday. Concurrent negotiations with China ended without progress toward halting additional tariffs. In terms of individual stocks, biotech leader CSL advanced by 1.2%, leading the market, while major banks such as CBA, NAB, and Westpac rose approximately 0.3%. Conversely, prominent mining companies saw declines of nearly 0.4%.