Miner Rally Pushes ASX Higher, November Rate‑Hike Odds Top 60%

The Australian Securities Exchange shook off a sharp early sell‑off and edged up by the close, thanks largely to a bounce in mining shares.

That miner‑led rally was enough to push market participants’ view of a Reserve Bank of Australia rate hike in November to a probability comfortably above 60%.

It’s a bit like watching a kangaroo out‑jump a wallaby – the market’s mood leapt along with the miners, leaving traders to wonder whether the sector can keep the momentum going.

With the odds now tilted toward a November hike, investors are bracing for higher borrowing costs while hoping the mining rally stays on the up‑track.

In the end, the day’s headline reminds us that a strong miner surge can rewrite the script for rates and earnings alike.