News: XIJ Financials propel Australian shares higher; US CPI data on tap

	  ASX 200 hits three-month high 

	  U.S. inflation data due later today 

	  Tech stocks hit two-month high 

(Updates to close)

Australian shares ended higher on Tuesday, led by gains in domestic financial stocks, as investors awaited crucial economic data scheduled for later in the week.

The S&P/ASX 200 index (xjo) closed 0.5% higher at 7,232.90, marking its third consecutive session of gains. The index rose as much as 0.6% during the day, hitting a three-month high.

Investor sentiment remained capped as traders looked forward to U.S. inflation data due later in the day, seeking insights into the trajectory of future rate hikes.

"As long as the Fed (Federal Reserve) doesn't increase rates and it is relatively dovish heading into Christmas, I don't see any real impediment to us," said Henry Jennings, senior market analyst at MarcusToday.

Market watchers are also awaiting Australian employment data, due on Dec 14.

"We expect unemployment rate to tick marginally higher, which indicates that previous hikes are starting to take effect on the jobs market," said Tim Waterer, chief market analyst at KCM Trade.

In Sydney, local financial stocks .AXFJ advanced 0.5%, with the "Big Four" banks rising between 0.1% and 0.9%.

Domestic tech stocks .AXIJ hit a two-month high in the session and closed 2.1% higher, tracking the overnight gains on Wall Street.

Sub-index majors Xero (XRO) and WiseTech Global (WTC) added 4.1% and 2.9%, respectively.

Local energy stocks .AXEJ pared earlier losses to close up 0.2%, tracking rising oil prices ahead of interest rate decisions.

Sector majors Woodside Energy (WDS) and Santos (STO) logged gains of 0.4% and 0.8%, respectively.

Bucking the trend, heavyweight mining sub-index .AXMM was in the red, slipping 0.1%.

Mining giants BHP Group (BHP) , and Rio Tinto (RIO) fell 0.04% and 0.3% each, while Fortescue (FMG) rose 1.6%.

Gold stocks .AXGD struggled for direction, mirroring the volatility in bullion prices as traders awaited key economic data.

Gold miner Northern Star Resources (NST) slipped 0.04%. New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.6% to finish the session at 11,382.58 points, while local traders wait for third-quarter GDP data due on Dec. 14.