Local sharemarkets are poised for heightened volatility this week as investors grapple with a confluence of economic uncertainties. The release of Australia's June quarter inflation data on Wednesday will be a pivotal moment, with the potential to significantly influence the Reserve Bank's monetary policy stance. Market participants are on edge as consensus expectations suggest a robust inflation print, increasing the likelihood of another interest rate hike.
At 11:30am, the S&P/ASX 200 is 0.85 per cent higher at 7,988.60.
The SPI futures are pointing to a rise of 72 points.
Best and worst performers
All sectors are in the black. The best-performing sector is Information Technology, up 1.43 per cent. The sector with the fewest gains is REITs, up 0.45 per cent.
The best-performing large cap is James Hardie Industries plc (ASX:JHX), trading 3.18 per cent higher at $54.12. It is followed by shares in Northern Star Resources (ASX:NST) and QBE Insurance Group (ASX:QBE).
The worst-performing large cap is Mercury NZ (ASX:MCY), trading 4.09 per cent lower at $6.09. It is followed by shares in ResMed (ASX:RMD) and Pilbara Minerals (ASX:PLS).
Commodities and the dollar
Gold is trading at US$2442.30 an ounce.
Iron ore is 2.3 per cent higher at US$101.95 a tonne.
Iron ore futures are pointing to a 1.1 per cent fall.
One Australian dollar is buying 65.65 US cents.
