ASX 200 live: RBA watching global risks; Wage rise 'modest drag' on inflation; IDP Education wipeout

RBA well placed to 'respond decisively' to international developments. Fair Work Commission grants above-inflation 3.5pc wage rise. NAB cuts economic forecasts. IDP Education dives 46 per cent.

A flare up in trade tensions between China and US is on investor radars, along with other economic data. Pictures: Charly Triballeau and Elvis Barukcic/AFP

Welcome to the Trading Day blog for Tuesday, June 3. The ASX 200 index closed 0.6 per cent higher to 8466.70 points.

On Wall Street, the S&P 500 index closed 0.4 per cent higher and the Dow Jones gained 0.1 per cent. The technology-focused Nasdaq ended 0.7 per cent stronger.

Cryptocurrency giant bitcoin was below $US106,000 at 4.55pm AEST.

The Aussie dollar was trading around US$64.57c.