So as the trading day approaches a close we have the ASX200 looking to finish on a weak note in a similar fashion to yesterday which saw “some” buying interest enter the market in the latter part of the afternoon session. The ASX200 finished the day lower by 0.63% or 37.60 at 5937.10 after trading as low as 5922.80 during the day.
The banks continued to face selling pressure with NAB -1.15%, ANZ, 0.46%, WBC -0.76% and CBA -0.66% for the day. FMG +1.61%, and RIO +0.57% did their bit to help things higher but it was a day which saw the sellers claim victory.
Other notable movers today included TLS -2.64%, CSL -0.99%, RFG was back in the wars -4.80%, SWM -4.27% and SIG also finished lower today with a decline of 3.65%. GXY +9.06%, SYR +5.79%, ORE +5.59% and SBM +5.56% all posted decent gains today and no points for guessing which sector was among the better performer on the day.
Markets will be tonight looking for more detail around proposed tariffs and any new developments on the trade war front. The USD continues to look heavy as the Euro trades above 1.2407 ahead of the London open, USDJPY 106.50, AUDUSD 0.7868 and GBP USD 1.3989 will all be waiting on more news.
GXY.AX Chart attached