Afternoon trading July 2

Thanks @Fiji1 and morning crew.

Half-time wrap:

Australian shares eased after the Reserve Bank warned a rise in inflation expectations could require "significantly higher interest rates".

The ASX 200 retreated 34 points or 0.44% by mid-session. Rate-sensitive property and consumer stocks declined, alongside healthcare providers, banks and most miners. Energy producers, tech stocks and utilities edged higher.

The minutes from last month's policy meeting showed policymakers were increasingly worried about inflationary pressures, signalling further rate hikes were not off the table. The bank noted inflation was "higher than expected" and board members were closely tracking expectations.

"Members acknowledged that if inflation expectations were to rise materially from current levels, it could require significantly higher interest rates to bring inflation back to target," the minutes noted. Consumer prices grew last month at the fastest pace in six months.

"The extent of uncertainty at present meant it was difficult either to rule in or rule out future changes in the cash rate target," the minutes said.

US stocks firmed overnight as gains in megacap tech stocks outweighed declines in cyclicals. The S&P 500 put on 0.27%.


Personal trading: Finally got some charts to work with, but it's been a bit like driving an unfamiliar car. Will reserve opinion until I spend a bit more time with it. Bought retraces in ARR, ONE and XRG.