The ASX traded flat on Wednesday afternoon, caught between a more hawkish stance from the Reserve Bank of Australia and a widely anticipated US Federal Reserve rate cut due before the local open on Thursday. The muted session reflects a market trying to reconcile two conflicting macro stories: a domestic central bank signalling it isn't done fighting inflation, and a global central bank preparing to ease.
The S&P/ASX 200 hovered around 8580, slipping 0.1 per cent with nine of eleven sectors in the red. Tech led the declines, a familiar pattern when US futures soften. . .
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