Thanks @shovel40, @Fiji1 and morning crew. Half-time wrap:...

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

Australian shares touched a three-week high as the mood on global financial markets remained constructive ahead of this afternoon's RBA interest rate announcement.

The ASX 200 rallied 36 points or 0.47% by mid-session. The advance put the index on track for a fourth straight gain, which if sustained would mark the longest winning run since February.

Utilities led a rally that lifted all sectors. Other pockets of strength included gold miners, spec stocks and tech companies.

Consumers remained pessimistic after recent inflation and economic data revived talk of additional rate hikes. The ANZ-Roy Morgan Australia Consumer Confidence index dropped 0.6 points last week to 80.5 points, dragging the four-week moving average to its lowest since January.

"The weakness in confidence may have been influenced by discussion that the RBA could raise rates this year or that rate cuts maybe delayed," ANZ economists wrote.

US stocks added to last week's gains amid growing optimism that the year ahead may deliver more US rate cuts than the market had priced in at the start of last week. The S&P 500 firmed 1.03%.


Personal trading: Traded a couple of the dips in LV1. Scraped a slim profit from AME from yesterday.