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The Market Wrap with Tony Sycamore – Market Analyst, IG Australia

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US rates could be cut sooner than expected, depending on results out of the Non-Farm Payrolls this week.

MARKET WRAP:

  • ASX200: down 0.02%, 8595
  • GOLD: $3,356 US/ounce
  • BITCOIN: $166,513 AUD
  • Pro Medicus climbed 7.8% to $307.39 after announcing two contracts in the United States worth more than $200 million in total.
  • BHP jumped 5.6%, Mineral Resources closed 7.8% higher, with Fortescue & Rio Tinto up 1.8%.
  • Up more than 1% was Wisetech Global, James Hardie and Bluescope Steel.
  • G8 fell 7.4% for its third day of losses in a row after one of its former employees was charged with offences related to the alleged abuse of children. 
  • Commbank down 2.2%, NAB off 1.1%, and Westpac down 0.7%. ANZ escaped the losses, up half a percent.
  • JB Hi-Fi down 3%, Harvey Norman off 1.5%, and Myer losing 1.6%.

CURRENCY UPDATE:

  • AUD/USD: 64.8 US cents
  • AUD/GBP: 48.1 pence
  • AUD/EUR: 55 Euro cents
  • AUD/JPY: 94 yen
  • AUD/NZD: 1.08 Dollars
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