Australian shares are mostly higher ahead of inflation data that could make rate cuts more likely. -AAP Image
The Australian share market is trading at a seven-week high after posting a fourth straight session of gains.
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The S&P/ASX200 rose 72.3 points, or 0.9 per cent, to 8,069.4 on Tuesday for its best close since March 6, as the broader All Ordinaries gained 82.8 points, or 1.01 per cent, to 8,286.7.
Markets responded well to news US President Donald Trump would soften automotive tariffs on foreign parts for US cars, in another step back from a more hawkish trade war stance.
Ten of 11 local sectors finished higher, with energy and utilities both lifting more than two per cent and materials pushing the bourse higher with a 1.4 per cent gain.
The Australian dollar is buying 64.16 US cents, up from 63.81 US cents as the greenback continued to flounder in the wake of US trade policy.
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