ASX continues to look for direction

October 13, 2021 - 1 week ago
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The Australian share market continues to look for direction, with the Wednesday’s session ending close to flat.

Major miners once again weighed on the index after iron ore prices reversed their strong rebound.

At the closing bell, the benchmark S&P/ASX 200 index slid -8.2 points, or -0.11% to 7,272.5, while the All Ordinaries fell -3.7 points, or -0.05%, to 7,571.9, while our local currency, the Australian dollar, is currently buying US$0.7352.

Markets were “mostly in wait-and-see mode” ahead of this Wednesday’s U.S. consumer-price report for September CPI and retail sales, the latest Federal Open Market Committee (FOMC) minutes, and the start of the U.S. Q3 earnings season.

Investors will be looking for clues about timelines surrounding the central bank’s planned taper for its bond-buying program.

Then on Thursday, we get an update on the Australian jobs data.

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