The ASX was weaker today, with the market unable to follow a stronger offshore lead as investors turned more cautious ahead of tonight’s Federal Budget. Lots of leaks in recent days and suffice to say, this will be one of the more important budgets in recent memory with the ALP fiddling with capital gains tax.
The ASX started the week on the back foot today on renewed concerns around the Middle East conflict after President Trump rejected Iran's latest peace proposal over the weekend sending oil prices higher again.
A tough day on the ASX today, with geopolitical risk firmly back in the driver's seat. Fresh US-Iran clashes in the Strait of Hormuz sent oil prices higher and unwound the peace trade that had supported market over the last few days.
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 started the week on the back foot today on renewed concerns around the Middle East conflict after President Trump rejected Iran's latest peace proposal over the weekend sending oil prices higher again.
A tough day on the ASX today, with geopolitical risk firmly back in the driver's seat. Fresh US-Iran clashes in the Strait of Hormuz sent oil prices higher and unwound the peace trade that had supported market over the last few days.
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.
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