What should I watch most closely on the ASX today?

Focus on breadth, sector leadership, and the reaction to the RBA statement at 2:30 pm AEDT. If advancers exceed 55% and banks lead, rebounds can last. If breadth drops below 40% and miners slide, expect further pressure and use tighter stops.

How could an RBA rate hike affect the ASX 200?

A hike can support bank margins but may weigh on rate‑sensitive areas like tech and discretionary. Higher yields can compress valuations. The index impact depends on guidance about inflation and the path for rates. Watch closing strength to judge if the move has legs.

Why are miners under pressure today?

A broad commodity selloff is weighing on resources, which are a large part of the index. If iron ore, copper, or energy prices stabilize, sentiment can improve. Until then, traders will likely demand better risk‑reward before adding exposure to the sector.

What technical levels matter for short‑term trades?

The middle Bollinger band near 8665 is a key reference, with the 50‑day around 8695 and the 200‑day near 8669. Resistance sits around 8797 and 8870. Using roughly one ATR of 67 points to frame entries, stops, and targets helps manage risk today.

Global Market Insights

ASX Today, February 03: RBA Hike Odds and Commodity Rout Hit Miners

ByHuzaifa Zahoor February 3, 2026February 3, 2026

ASX today opens on the back foot as traders price a possible RBA rate hike and a commodity selloff weighs on miners. The ASX 200 (^AXJO) faces a test of recent support with banks and resources likely to drive moves. We expect choppy trade ahead of the RBA meeting, with breadth and sector leadership guiding near‑term direction. Watch liquidity into the afternoon when policy headlines hit. Our quick map highlights key levels, risks, and a practical plan for ASX today.