Morning Report 18 Feb 25: ASX to edge higher ahead of expected RBA rate cut

The Presidents’ Day public holiday has Wall Street offline yet it ended higher in afternoon trade. In Europe, stocks hit record highs, with defense stocks surging amid ongoing geopolitical tensions. In commodities, oil prices lifted on speculation that OPEC may delay planned output hikes, while gold gained on a softer U.S. dollar. Meanwhile, iron ore slid as supply fears eased following cyclone concerns, putting iron miners on track for their weakest results since 2019. Closer to home, BHP is set to report its half-year results, with investors watching closely for insights into the mining giant’s performance. Looking ahead, Aussie shares are expected to open higher on Tuesday ahead of the RBA’s interest rate decision, while the Aussie dollar has climbed to a two-month high against the greenback.

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