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Good morning and welcome to HotCopper’s Market Open for July 30, 2025.
No matter what happens, all eyes will be on the Australian Bureau of Statistics (ABS) later today when it releases fresh local CPI data for the nation.
That dataset is to be the last major packet of data the Reserve Bank of Australia (RBA) will consider moving ahead to its August meeting.
While prediction markets, ever-enthusiastic, are expecting an August cut – along with analysts for some of the Big 4 (and American investment banks) – the great unknown for Australian inflation remains the tariff un-pause set to kick off this Friday evening local time.
On Tuesday, Canberra’s Trade Minister said he is still anticipating Australia to face 10% blanket tariffs in the absence of further information. Don’t forget that last week, Bullock told the market not to get too hype about an August rate cut.
Looking at futures, the ASX is tipped to trade sideways out the gate, suggesting the market doesn’t really know what to expect from the ABS.
On the SGX, iron ore continues to hover around the US$100/tn mark, which is where CBA analysts see a ceiling for the ore price.
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