The Reserve Bank of Australia (RBA) is set to lower the Official Cash Rate (OCR) by 25 basis points (bps) to 3.85% from 4.1% after concluding its May monetary policy meeting on Tuesday. The decision will be announced at 04:30 GMT.
The Dow Jones Industrial Average (DJIA) gained ground to kick off the new trading week, touching 42,800 for the first time in eight weeks as markets continue to push equity markets back into the high end following this year’s tariff-fueled stock rout.
The Australian Dollar (AUD) extends its rebound against the US Dollar (USD) on Monday, with AUD/USD climbing to 0.6455, trimming recent losses as sentiment turns against the Greenback.