07.07.202606:37:31UTC+00ASX 200 Slips Further as Fed Minutes Loom

The ASX 200 fell 27 points, or 0.3%, to close at 8,804 on Tuesday, posting a second consecutive decline as softer S&P 500 and Nasdaq futures set a cautious tone ahead of the Federal Reserve’s June meeting minutes. Sentiment was further pressured by investor jitters ahead of key June CPI and PPI data from China, Australia’s largest trading partner, due later this week.

Domestically, elevated borrowing costs, a cooling housing market, and geopolitical uncertainty continued to weigh on the economic outlook, underscored by a modest decline in June job advertisements. Sector-wise, non-energy minerals, consumer non-durables, logistics, and energy minerals led the losses, partially offset by gains in technology services, healthcare, and financials.

Gold stocks slumped 4.3% as bullion prices retreated, with Northern Star Resources, the country’s largest listed gold miner, dropping 5.1%. The broader mining complex shed 2.9%, dragged down by a 1.8% fall in iron ore heavyweight Rio Tinto. In contrast, WiseTech Global jumped 5.7% following the appointment of a new chair, while the four major banks advanced between 0.9% and 1.6%.