index Update: Australian shares rebounded on Wednesday, with the benchmark S&P/ASX 200 rising 61.3 points, or 0.7%, to close at 8,785.7. The gain came as softer-than-expected economic data strengthened expectations that the Reserve Bank of Australia could delay further Interest Rate increases.

Mining and energy stocks led the market higher, supported by continued strength in Commodity prices. BHP Group and Rio Tinto both touched record highs during the session as copper prices extended their rally, boosting sentiment across the resources sector.

Sector performance reflected the risk-on mood, with six of the ASX’s 11 sectors finishing in positive territory. Energy emerged as the top-performing sector, advancing 1.59%, followed by Materials, which gained 1.48%, and Consumer Staples, up 1.14%. Financials also contributed to the market’s rise, adding 0.79%. The market’s advance also pushed the ASX 200 above its 125-day Moving Average. Despite recent Volatility, the index has gained 0.78% over the past five trading sessions and remains broadly flat for the year to date.

Macro Update: Australia’s current Account Balance recorded a Deficit of $27.1 billion in the March quarter of 2026, according to data released by the Australian Bureau of Statistics (ABS). The result marked the fourth consecutive quarterly decline and the first Trade Deficit in goods and services since the December quarter of 2017.

The deterioration was largely driven by weaker exports of mining commodities, with iron ore and coal exports falling amid lower commodity prices and disruptions caused by cyclones. Services exports also declined, reflecting a smaller intake of international students and lower education-related travel activity.

Meanwhile, imports of goods and services increased, supported by strong Demand for data centre equipment, fuels and lubricants. Rising imports, combined with softer exports, pushed the trade balance into deficit.

The ABS also reported that Australia’s gross domestic product (GDP) grew 0.3% in the March quarter and 2.5% over the year. Household spending and private Business Investment contributed to growth, while net trade weighed on economic activity as exports fell and imports rose.

Top Market Movers: Among the top gainers, Paladin Energy Ltd (ASX:PDN) surged 11.48% to close at AUD 11.85, adding AUD 1.22 during the session. TUAS Limited (ASX:TUA) advanced 10.50% to AUD 2.21, up AUD 0.21, while NexGen Energy (Canada) Ltd (ASX:NXG) climbed 9.37% to AUD 17.16, gaining AUD 1.47.

On the losing side, Lovisa Holdings Limited (ASX:LOV) fell 6.98% to AUD 20.91, shedding AUD 1.57. Vulcan Energy Resources Limited (ASX:VUL) declined 5.42% to AUD 3.84, down AUD 0.22, while Lendlease Group (ASX:LLC) dropped 5.21% to AUD 2.55, losing AUD 0.14.

Commodity Update: The U.S. dollar strengthened on Wednesday as investors closely monitored developments in the Middle East and awaited key U.S. economic data for further clues on the Federal Reserve’s interest-rate outlook. Gold declined 0.26% to USD 4,512.40 per ounce, silver fell 0.33% to USD 75.30 per ounce, and copper eased 0.18% to USD 14,001.35 per tonne. Meanwhile, Brent Crude oil advanced 1.10% to USD 97.01 per barrel amid renewed regional tensions and a sharp decline in U.S. crude inventories.

The S&P/ASX 200 gained 61.30 points in the latest Trading session, forming a bullish candlestick pattern that reflects improving market sentiment and strengthening buying interest. Technically, the index remains comfortably above its 21-day Simple Moving Average (SMA), which continues to act as a key dynamic support level and reinforce the broader positive trend. Immediate support is located near the 8,700 level, and maintaining this support could help sustain bullish momentum and pave the way for further upside. However, a decisive break below 8,700 would weaken the current technical setup and could trigger a deeper corrective move, increasing short-term market volatility.