The Aussie market suffered its sharpest fall in months, sliding deep into the red as a global commodity rout sparked a nasty four-day losing streak. The sell-off followed President Trump’s nomination of Kevin Warsh as the next Fed Chair. Warsh’s hawkish reputation sent the US dollar surging, causing gold to suffer its steepest crash since the 1980s and silver to plunge even further. Local gold miners like Newmont and Northern Star were crushed as the broader Materials sector retreated sharply. In contrast, Nine Entertainment extended its winning streak following a massive billboard acquisition. GrainCorp plummeted on a major profit downgrade, while the "Big Four" banks showed some resilience. All eyes now pivot to tomorrow’s high-stakes RBA meeting, with markets heavily favouring the first interest rate hike in over two years.

The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

The Aussie market suffered its sharpest fall in months, sliding deep into the red as a global commodity rout sparked a nasty four-day losing streak. The sell-off followed President Trump&rsquo;s nomination of Kevin Warsh as the next Fed Chair. Warsh&rsquo;s hawkish reputation sent the US dollar surging, causing gold to suffer its steepest crash since the 1980s and silver to plunge even further. Local gold miners like Newmont and Northern Star were crushed as the broader Materials sector retreated sharply.&nbsp;In contrast, Nine Entertainment extended its winning streak following a massive billboard acquisition. GrainCorp plummeted on a major profit downgrade, while the "Big Four" banks showed some resilience. All eyes now pivot to tomorrow&rsquo;s high-stakes RBA meeting, with markets heavily favouring the first interest rate hike in over two years.
The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

CommSec Market Update is the podcast that will help you to stay ahead of the trends with daily expert commentary as the market opens and closes.  Whether you are invested in the stock market, or just looking to get started, join the team from Australia’s leading online broker and follow the changes as they happen.



The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

CommSec Market Update is the podcast that will help you to stay ahead of the trends with daily expert commentary as the market opens and closes.  Whether you are invested in the stock market, or just looking to get started, join the team from Australia’s leading online broker and follow the changes as they happen.
 
The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

Insights, interviews and the latest news and information on investment markets from CommSec, Australia's leading online broker.