The S&P/ASX 200 traded flat around 8,591 on Tuesday, following losses from earlier in the session, as investors digested the Reserve Bank of Australia’s latest policy decision. The RBA kept interest rates unchanged at 3.85% in its July meeting, defying market expectations of a 25 bps rate cut. The decision reflected a more balanced inflation outlook and ongoing strength in the labor market. Meanwhile, NAB Business Confidence rose to 5 in June 2025 from 2 in May, marking its third consecutive monthly increase and the highest level since January. On the global front, trade tensions flared after US President Trump announced new tariffs on fourteen countries lacking trade agreements with the US, including a 25% duty on major exporters. Meanwhile, he also delayed the implementation of reciprocal tariffs from July 9 to August 1, further clouding the global trade outlook. Notable performers included Newmont Corporation (2.4%), REA Group Ltd (1.8%), and Pro Medicus Limited (1.4%).