Australia's share market has trimmed early losses after NAB economists predicted the Reserve Bank is done hiking interest rates, while miners were under pressure from heavy commodity prices.
The S&P/ASX200 fell 20.9 points on Tuesday, down 0.24 per cent, to 8,604.2, as the broader All Ordinaries trimmed 31.1 points, or 0.35 per cent, to 8,824.8.
The top-200 reclaimed most of a more than 1.5 per cent drop in the morning as dip-buyers entered after NAB economists predicted the Reserve Bank's next move would be an interest rate cut.
"We no longer expect the RBA to hike by 25 basis points in August, and now see the cash rate peaking at the current rate of 4.35 per cent for the cycle," NAB chief economist Sally Auld wrote in a a research note.
