Australian market set to open lower

The Australian share market looks set to open lower ahead of the Reserve Bank's interest rate meeting, with no lead from Wall Street with markets there closed

The Australian market looks set to open lower ahead of the Reserve Bank's interest rate meeting later in the day.

At 0645 AEST on Tuesday, the share price index was down 19 points at 5,399.

Locally, in economic news on Tuesday, the Reserve Bank of Australia holds its monthly board meeting and decides whether or not to alter its official interest rate.

The Australian Bureau of Statistics releases the Balance of Payments and International Investment Position and government finance statistics, both for the June quarter.

The Dun and Bradstreet business expectations survey is also due out.

No major equities news is expected.

In Australia, the market on Monday made solid gains as the prospect of an interest rate rise in the US in September was pared back.

The benchmark S&P/ASX200 index was up 56.8 points, or 1.06 per cent, at 5,429.6 points.

The broader All Ordinaries index was up 53.8 points, or 0.98 per cent, at 5,524.4 points.


Share

1 min read

Published

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world