Rate Hike, Big Tech Earnings, Fed Decision: Market Watchers on High Alert

RBA Governor Michele Bullock is set to speak on Tuesday, followed by the Q2 inflation report on Wednesday and producer prices plus an address from Assistant Governor Sarah Hunter on Friday.

The market's focus will be on whether a fourth hike for the year is coming in August, with consensus expecting annual headline inflation to accelerate to around 4.4% in the June quarter, up from 4.1% in Q1 and well above the RBA's 2-3% target band.

The figure to watch is trimmed inflation, where expectations are for 3.8%, having hit 3.6% in May, the highest since late 2024.