The local share market has rallied at the start of a busy week of central bank meetings overseas and a key inflation readout domestically.
The benchmark S&P/ASX200 index closed Monday up 68.3 points, or 0.86 per cent, to 7,989.6, while the broader All Ordinaries gained 70.9 points, or 0.87 per cent, to 8,224.3.
Just after 11am the ASX200 reached a 10-day high of 8,000, but held that level for less than a minute.
ANZ analysts Brian Martin and Daniel Hynes predicted on Monday the US Federal Reserve would leave rates on hold and issue dovish commentary this week, while the Bank of Japan would raise rates and the Bank of England would refrain from cutting them.
Also this week, four members of the "Magnificent Seven" - Microsoft, Meta, Amazon and Apple - will report earnings.
But the highlight of the week for Australian traders will be the second-quarter inflation readout due late on Wednesday morning.
"It’s fair to say this is the most important data point Australia has received all year," eToro market analyst Josh Gilbert said.
The market consensus is the Australian Bureau of Statistics will announce that "trimmed mean" inflation rose one per cent in the June quarter, keeping the annual rate of inflation at four per cent.
But NAB analyst Rodrigo Catril said a trimmed mean inflation print of more than 1.1 per cent would leave the Reserve Bank little choice but to hike rates again.
All 11 sectors of the ASX finished higher, with tech stocks the biggest gainers, collectively rising 1.5 per cent. Wisetech Global rose 2.2 per cent, Life360 climbed 2.7 per cent and Macquarie Technology added 3.0 per cent.
Star Entertainment Group was the biggest gainer in the ASX200, rising 14.7 per cent to a four-month high of 58.5c after The Australian reported over the weekend four international bidders had been circling in recent weeks.
Three of the Big Four banks were higher, with Westpac rising 1.4 per cent to $28.99 and NAB and CBA both adding 1.3 per cent, to $37.90 and $134.90, respectively.
ANZ was the outlier, dropping 1.2 per cent to $28.82 amid growing scrutiny of its bond-trading practices.
NIB dropped 0.6 per cent to $7.19 as the health insurer announced managing director and chief executive Mark Fitzgibbon would retire on September 1, after 22 years in the role.
"Mark has been a tremendous leader at NIB and has had an enormous impact on the Australian health sector," NIB group chair David Gordon said.
In the heavyweight mining sector, BHP edged 0.1 per cent lower at $42.07, while Fortescue and Rio Tinto were flat, at $20.35 and $115.87, respectively. Rio reports full-year earnings results on Wednesday.
The Australian dollar was buying 65.56 US cents, up from 65.53 US cents at Friday's ASX close.
ON THE ASX:
* The S&P/ASX 200 index finished 68.3 points higher, or 0.86 per cent, to 7,989.6.
* The broader All Ordinaries gained 70.9 points, or 0.87 per cent, to 8,224.3.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 65.56 US cents, from 65.53 US cents at Friday's ASX close
* 100.53 Japanese yen, from 100.68 Japanese yen
* 60.38 euro cents, from 60.39 euro cents
* 50.95 British pence, from 50.98 British pence
* 111.28 NZ cents, unchanged
