The local bourse has finished essentially flat after strong retail spending growth tempered expectations the Reserve Bank will keep interest rates steady.
The local share market has enjoyed its best day of trading in 11 weeks, rising 1.1 per cent with inflation data likely closing the door to a rate hike in July.
The Consumer Price Index (CPI) rose 5.6 per cent in the 12 months to May, its smallest increase since April 2022, according to data from the Australian Bureau of Statistics.
The local share market has gained 0.56 per cent, led by miners and the big banks to snap a four-day losing streak despite a poor lead from Wall Street.
The Australian share market has snapped its seven-day winning streak, with investors apparently apprehensive about Jerome Powell's testimony to the US Congress.
Australian shares closed up nearly 0.9 per cent, reaching their highest level since April while the local currency plunged after the release of the RBA minutes.
The local share market closed higher for its fifth straight session, rising 1.1 per cent for its best day since April 11, to finish the week up 1.8 per cent.
The local market finished up 0.3 per cent as moderating US inflation diminished the chance of a Fed rate this week, but CSL was serving as a major drag.
