The ASX 200 snapped a three-week losing streak, though there was little conviction around the local market today, with the index slipping mildly lower by the close – although it did recover ~50 points from the morning low as US Futures traded up.
The ASX edged lower after yesterday’s strong rally, with investors again taking cues from the evolving Iran conflict and the knock-on impact on energy markets. While the index finished little changed overall, the session was marked by steady intraday swings.
The ASX enjoyed a strong rebound today, bouncing sharply as investors latched onto two positives at once. Brent crude rolled over in Asian trade after the US President purportedly presented Iran with a 15-point plan to end the conflict, helping to calm nerves. At the same time, the February CPI print came in a touch softer than feared, giving the market some confidence that domestic inflation pressures are easing.
The ASX finished modestly higher but well off its intraday highs after an early relief rally faded as the geopolitical backdrop in the Middle East remained fluid. The index surged more than +130pts at the open, briefly pushing 8500, before momentum cooled as US futures slipped gradually through the day.
The ASX finished lower, though it was much worse early on in the session. The war in the Middle East continues to dominate sentiment, with the market now down ~9% from the start of March, flirting with technical 'correction' territory.
The ASX 200 closed down in a session defined by continued selling across gold and materials, with the broader index unable to find meaningful support despite pockets of strength in healthcare, utilities and energy in particular.
The ASX 200 fell sharply today, the damage felt heavily in the resources with gold miners hit hardest as bullion dropped overnight on stronger USD following the Fed’s interest rate hold, while rate-sensitive growth and property stocks continued to struggle in the higher-for-longer rate environment.
The ASX 200 closed up in a decent session, shrugging off the RBA’s move and the immediate Iran-related volatility and instead refocusing on underlying fundamentals. With the RBA firmly in the rear-view mirror following Tuesday's hike, attention has shifted squarely to tonight's US Federal Reserve decision. Tech and real estate led the charge, with growth stocks clawing back recent losses as bond yields settled and seven of eleven sectors finished higher — the kind of broad participation that hints at improving conviction in a wobbled market.
The ASX closed modestly higher on Tuesday in a session that was entirely about one thing: the RBA. A split 5-4 decision to raise the cash rate by 25 basis points to 4.1% initially sent the dollar and bond yields lower as the narrow margin cast doubt over the path ahead, but banks and materials held the index in positive territory, though it wasn't a convincing rally.
The ASX 200 fell as a broad sell-off in the mining sector overwhelmed a solid showing from defensives and financials. Six of eleven sectors finished higher, but that didn't matter much when the heavyweights were doing the damage. Gold miners were hit as bullion continued to slide following two consecutive weeks of declines. Iron ore stocks also weighed after China's state-backed trader eased restrictions on BHP ore grades — partially unwinding last week's fear-driven rally as fresh data showed Chinese steel output fell 3.6% in the first two months of the year.
The ASX edged lower after yesterday’s strong rally, with investors again taking cues from the evolving Iran conflict and the knock-on impact on energy markets. While the index finished little changed overall, the session was marked by steady intraday swings.
The ASX enjoyed a strong rebound today, bouncing sharply as investors latched onto two positives at once. Brent crude rolled over in Asian trade after the US President purportedly presented Iran with a 15-point plan to end the conflict, helping to calm nerves. At the same time, the February CPI print came in a touch softer than feared, giving the market some confidence that domestic inflation pressures are easing.
The ASX finished modestly higher but well off its intraday highs after an early relief rally faded as the geopolitical backdrop in the Middle East remained fluid. The index surged more than +130pts at the open, briefly pushing 8500, before momentum cooled as US futures slipped gradually through the day.
The ASX finished lower, though it was much worse early on in the session. The war in the Middle East continues to dominate sentiment, with the market now down ~9% from the start of March, flirting with technical 'correction' territory.
The ASX 200 closed down in a session defined by continued selling across gold and materials, with the broader index unable to find meaningful support despite pockets of strength in healthcare, utilities and energy in particular.
The ASX 200 fell sharply today, the damage felt heavily in the resources with gold miners hit hardest as bullion dropped overnight on stronger USD following the Fed’s interest rate hold, while rate-sensitive growth and property stocks continued to struggle in the higher-for-longer rate environment.
The ASX 200 closed up in a decent session, shrugging off the RBA’s move and the immediate Iran-related volatility and instead refocusing on underlying fundamentals. With the RBA firmly in the rear-view mirror following Tuesday's hike, attention has shifted squarely to tonight's US Federal Reserve decision. Tech and real estate led the charge, with growth stocks clawing back recent losses as bond yields settled and seven of eleven sectors finished higher — the kind of broad participation that hints at improving conviction in a wobbled market.
The ASX closed modestly higher on Tuesday in a session that was entirely about one thing: the RBA. A split 5-4 decision to raise the cash rate by 25 basis points to 4.1% initially sent the dollar and bond yields lower as the narrow margin cast doubt over the path ahead, but banks and materials held the index in positive territory, though it wasn't a convincing rally.
The ASX 200 fell as a broad sell-off in the mining sector overwhelmed a solid showing from defensives and financials. Six of eleven sectors finished higher, but that didn't matter much when the heavyweights were doing the damage. Gold miners were hit as bullion continued to slide following two consecutive weeks of declines. Iron ore stocks also weighed after China's state-backed trader eased restrictions on BHP ore grades — partially unwinding last week's fear-driven rally as fresh data showed Chinese steel output fell 3.6% in the first two months of the year.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
Verication email sent.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
!
Invalid One Time Password
Please check you entered the correct info, please also note there is a 10minute time limit on the One Time Passcode
To reset your password, enter your email address
A link to create a new password will be sent to the email address you have registered to your account.
Market Matters members receive daily market reports, real-time trade alerts, full access to 5 portfolios and dynamic company data.
Choose how you'd like to proceed:
We have a range of membership options to suit your needs and budget, why not join today and get unlimited access to the premium Market Matters service.
