Woodside takes charge of Bass Strait; Ramelius, Viva in focus; Trump flags 15-20pc baseline tariffs

Australia faces trade pain as US President Donald Trump flags 15-20 per cent baseline tariffs for no-deal nations. Woodside in driver's seat at Bass Strait after 50 years. Viva's weak first-half weighs. Greatland's worst one-day drop since June IPO.

US President Donald Trump's trade deadline of Aug 1 is in focus this week. Picture: Mandel Ngan/AFP

That's all from the Trading Day blog for Tuesday, July 29. The ASX 200 index closed up 0.1 per cent at an intraday high of 8704.6 points after hitting a two-week low of 8643.5 in early trading. US, EU futures rise.

In the US, the tech-heavy Nasdaq Composite index rose 0.3 per cent to its 14th record high this month. The S&P 500 also hit its sixth consecutive record, rising less than 0.1 per cent, while the Dow Jones Industrial Average ended 0.1 per cent lower.

Cryptocurrency giant bitcoin is around $US118,600.

The Aussie dollar is trading around US65.21c.