The Australian sharemarket is slightly higher at noon as traders digest increased Ukraine tensions, upbeat Wall Street leads and a local trade surplus that fell short of forecasts, while waiting for the Reserve Bank of Australia's statement this afternoon.
At 12.05pm (AEST), the benchmark S&P/ASX200 index gained 13.8 points, or 0.25%, to 5,476, while the broader All Ordinaries index added 13.9 points, or 0.26%, to 5,457.3.
IG market strategist Evan Lucas said the RBA's cash rates decision is expected to be a non-event, holding steady at a record low 2.5 per cent.
"The market mover of today's meeting will be in the detail and the outlook," Mr Lucas said.
Meanwhile, Ukraine is "inching closer and closer to civil war," he said.
"Let’s hope this scenario does not arise but it will be a flash point for a possible sell-off -- which the market seems to be gunning for."