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ASX to rise as Wall St rebounds; RBA cut in focus
ASX to rise as Wall St rebounds; RBA cut in focus

AU Financial Review

time19-05-2025

  • Business
  • AU Financial Review

ASX to rise as Wall St rebounds; RBA cut in focus

The ASX is set to lift as investors look to an expected rate cut by the Reserve Bank of Australia and Wall Street rebounded after a shock US credit downgrade. A renewed wave of dip buying pushed US markets into positive territory but the dollar remained lower. The S&P 500 wiped out a slide that earlier topped 1%. Several strategists said any pullback could be an opportunity to wade back into the market amid bullish momentum boosted last week by the US-China tariff truce, with some big banks watering down their recession calls. Bonds also came well off session lows, following a slide that briefly put 30-year yields above 5%. Market highlights ASX futures are pointing up 58 points or 0.7 per cent to 8369. All US prices are as of 1.30pm New York time. Today's agenda The main focus for markets today is the Reserve Bank of Australia's interest rate decision. Most economists expect the central bank to cut rates for the second time this year. The current expectation is a 0.25 percentage point cut, which would take the cash rate below 4 per cent for the first time since 2023. Top stories Policy demands could lead to Libs-Nats split | The Nationals are demanding the Liberals stay committed to their key policies as a condition of staying in the Coalition. | The two presidents spoke on the phone with the threat that the United States would walk away from its commitment to the war. MinRes' new chair to pocket $8.34m if he turns miner around | The Mineral Resources board has lured Malcolm Bundey, a packaging sector veteran, to become its chair with a bumper package of share options. | The prime minister was in Rome for the Pope's inauguration mass and the two leaders spoke about their shared concern for global conflict.

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