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The S&P/ASX 200 traded flat around 8,591 on Tuesday, following losses from earlier in the session, as investors digested the Reserve Bank of Australia’s latest policy decision. The RBA kept interest rates unchanged at 3.85% in its July meeting, defying market expectations of a 25 bps rate cut. The decision reflected a more balanced inflation outlook and ongoing strength in the labor market. Meanwhile, NAB Business Confidence rose to 5 in June 2025 from 2 in May, marking its third consecutive monthly increase and the highest level since January. On the global front, trade tensions flared after US President Trump announced new tariffs on fourteen countries lacking trade agreements with the US, including a 25% duty on major exporters. Meanwhile, he also delayed the implementation of reciprocal tariffs from July 9 to August 1, further clouding the global trade outlook. Notable performers included Newmont Corporation (2.4%), REA Group Ltd (1.8%), and Pro Medicus Limited (1.4%).

Australian Shares Finish Flat After RBA Decision

The annual inflation rate in Hungary inched up to 4.6% in June 2025 from 4.4% in the previous month, in line with market forecasts. This marked the highest reading since March, driven by higher costs for food (6.2% vs 5.9% in May), electricity, gas and other fuels (8.6% vs 5.3%), and consumer durables (2.6% vs 2.2%). In contrast, price growth slowed for alcoholic beverages and tobacco (6.3% vs 7.3%) and services (5.4% vs 5.9%). On a monthly basis, consumer prices rose by 0.1% in June, following a 0.2% increase in May. Meanwhile, the annual core inflation, which excludes volatile items such as food and energy, eased to a seven-month low of 4.4% in June, from 4.8% in the prior month and below market expectations of 4.6%.

Hungary Inflation Rate at 3-Month High

Silver prices held firm around $36.80 per ounce on Tuesday, hovering near 13-year highs as markets assessed the latest US trade policy moves. President Donald Trump announced updated tariff rates on 14 countries that have not reached trade agreements with Washington, including major exporters such as Japan and South Korea, both of which will face 25% levies. Trump also signed an executive order extending the reciprocal tariff deadline to August 1 from July 9, providing additional time for negotiations. He further warned of a potential 10% tariff on countries aligning with what he called the “Anti-American policies of BRICS,” as the bloc held a summit in Brazil. Meanwhile, a stronger-than-expected US jobs report for June has tempered expectations for near-term interest rate cuts from the Federal Reserve, with markets largely pricing out the possibility of a move in July.

Silver Steady as Markets Digest US Tariff News

Copper futures held below $5 per pound on Tuesday after falling for three straight sessions, as investors weighed the latest tariff announcements from the White House. US President Donald Trump unveiled updated tariff rates on 14 countries that have yet to reach trade agreements with Washington, including export-heavy economies such as Japan and South Korea, both set to face 25% levies. He also signed an executive order extending the deadline for reciprocal tariffs to August 1 from July 9, providing more time for negotiations. Moreover, Trump threatened to impose an additional 10% tariff on countries aligning with what he described as “anti-American policies on BRICS.” Analysts cautioned that the widening scope of trade measures could dampen global growth and weigh on demand for industrial metals such as copper. Last week, copper prices surged to a three-month high amid tightening global supply and a rush by exporters to redirect shipments to the US ahead of potential import duties.

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