Why did the ASX 200 rebound today?

Sentiment improved after a Trump tariff reversal eased fears of broad import levies, lifting cyclicals and travel. Energy and major banks led gains as global growth hopes firmed. The move was tempered by local rate risks, but buyers focused on quality, liquid names and earnings resilience, helping the ASX 200 push higher.

How do RBA rate hike risks affect the ASX 200?

A higher chance of an RBA rate hike supports banks and insurers via margins and investment income, but pressures long‑duration tech and REITs. If data stay firm, leadership skews to value and cash‑generative stocks. A dovish turn would rotate flows back to growth and small caps within the ASX 200.

What drove Santos shares higher today?

Santos shares jumped after confirming first Barossa LNG cargo loading, a key project milestone. The update improved confidence in volumes and timelines, while firmer oil and LNG prices supported sector sentiment. That strength helped lift the ASX 200’s energy cohort during today’s risk‑on session.

Which data points should investors watch next?

Focus on upcoming CPI, retail sales, and wage numbers for direction on inflation and policy. Company outlooks during reporting season will guide margin trends under higher funding costs. These indicators will shape RBA expectations and sector leadership across the ASX 200 in the weeks ahead.

Global Market Insights

ASX 200 Today, January 23: Rebounds as Tariff Fears Ease, RBA Risk Looms

ByDanny Kontos January 22, 2026January 22, 2026

The ASX 200 opened higher as tariff worries cooled and risk appetite improved. A softer tone from the US on trade helped lift cyclicals, even as a hot jobs print keeps a February RBA rate hike in play. Energy and major banks led early gains, with the benchmark ^AXJO tracking firmer. We break down what is driving today’s ASX 200 rebound, how the Trump tariff reversal shifted sentiment, and what the RBA risk means for positioning.