- The benchmark index ASX 200 was down just 2.10 points at 6,610.50 in the initial few minutes of trading on Tuesday (5 July).
- RBA is broadly expected to announce another 50 basis points hike in cash rate to 1.35% in its policy meet today.
- Six of 11 sectors traded higher today, with energy being the best performing sector.
Aussie stocks opened on a flat note on Tuesday (5 July) as investors awaited Reserve Bank of Australia's (RBA) interest rate decision, due later in the day. The benchmark index ASX 200 opened flat and was down just 2.10 points at 6,610.50 in the initial few minutes of trading. Markets lacked direction in the absence of sufficient cues from the global markets as Wall Street indices were closed on Monday for a public holiday. The ASX 200 closed 1.11% higher at 6,612.60 points on Monday.
There is a broad consensus in the market that RBA will go for another 50 basis points (bps) hike in cash rate to 1.35% today. It is worth mentioning that in May this year, the RBA increased rates for the first time after almost a decade, followed by another rate hike in June.