The ASX pushed higher today, building on strength from yesterday’s rally as sentiment around a potential US-Iran improved materially overnight. The prospect of the Strait of Hormuz reopening saw oil prices fall sharply, easing inflation concerns and spurring on risk appetite.
The ASX bounced strongly today, shaking off recent weakness, leaning into improving sentiment around the Middle East, with the Whitehouse now clearly seeking an off-ramp from the Iran conflict.
The ASX slipped again today, though the move felt relatively contained given the significance of the RBA decision. The central bank delivered a third straight hike, taking the cash rate to 4.35%, but the market largely took it in stride, rising ~35pts after the decision into the close.
The ASX gave back some of Friday’s bounce today, drifting lower as softer local updates outweighed ongoing strength in US equities. Breadth was soft through the session with Staples and Financials leading the declines as the index whipsawed early in the session before cruising lower into the close.
The ASX finally found some buyers today, snapping its eight-day losing streak as risk appetite improved following record highs on Wall Street and a modest pullback in oil from Thursday’s spike. Materials did the heavy lifting, helped by gains in iron ore, while gold names also bounced after recent weakness.
The ASX drifted lower again today, extending its losing streak to eight sessions as elevated oil prices and rising bond yields continued to weigh on sentiment. Brent crude pushed toward multi-year highs, keeping inflation concerns alive and lifting the Australian 10-year yield above 5% after a steady climb over the past two weeks.
The ASX extended its losing streak today as investors digested Australia’s March inflation print, which came in slightly below expectations but still high enough to keep the prospect of another RBA rate hike firmly on the table next week. Bond yields eased following the data, though sentiment remained fragile with markets now pricing roughly a ~75% chance of a move up in May.
The ASX had another tough session today with selling fairly broad-based, leaving the market testing its 200-day moving average as investors remain cautious around the macro backdrop.
A choppy session that mirrored yesterday’s move to end the week as higher oil prices kept a lid on the local market for most of the day until a decent ~50pt rally from the lows saw the index finish almost flat into the close. The selling in financials eased, providing some stability, while materials weighed as gold stocks took a hit.
The ASX remained under pressure today, as the index notched its third consecutive day of losses, weighed down by renewed fears around the Iran conflict after reports of Iranian gunboats firing on commercial vessels and seizing ships in the Strait of Hormuz.
The ASX bounced strongly today, shaking off recent weakness, leaning into improving sentiment around the Middle East, with the Whitehouse now clearly seeking an off-ramp from the Iran conflict.
The ASX slipped again today, though the move felt relatively contained given the significance of the RBA decision. The central bank delivered a third straight hike, taking the cash rate to 4.35%, but the market largely took it in stride, rising ~35pts after the decision into the close.
The ASX gave back some of Friday’s bounce today, drifting lower as softer local updates outweighed ongoing strength in US equities. Breadth was soft through the session with Staples and Financials leading the declines as the index whipsawed early in the session before cruising lower into the close.
The ASX finally found some buyers today, snapping its eight-day losing streak as risk appetite improved following record highs on Wall Street and a modest pullback in oil from Thursday’s spike. Materials did the heavy lifting, helped by gains in iron ore, while gold names also bounced after recent weakness.
The ASX drifted lower again today, extending its losing streak to eight sessions as elevated oil prices and rising bond yields continued to weigh on sentiment. Brent crude pushed toward multi-year highs, keeping inflation concerns alive and lifting the Australian 10-year yield above 5% after a steady climb over the past two weeks.
The ASX extended its losing streak today as investors digested Australia’s March inflation print, which came in slightly below expectations but still high enough to keep the prospect of another RBA rate hike firmly on the table next week. Bond yields eased following the data, though sentiment remained fragile with markets now pricing roughly a ~75% chance of a move up in May.
The ASX had another tough session today with selling fairly broad-based, leaving the market testing its 200-day moving average as investors remain cautious around the macro backdrop.
A choppy session that mirrored yesterday’s move to end the week as higher oil prices kept a lid on the local market for most of the day until a decent ~50pt rally from the lows saw the index finish almost flat into the close. The selling in financials eased, providing some stability, while materials weighed as gold stocks took a hit.
The ASX remained under pressure today, as the index notched its third consecutive day of losses, weighed down by renewed fears around the Iran conflict after reports of Iranian gunboats firing on commercial vessels and seizing ships in the Strait of Hormuz.
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