ASX Share Market Declines Amidst Economic Forecast Downgrades

Monday, 2 September 2024, 14:40

ASX share market declines as economists downgrade GDP forecasts, reflecting a cautious outlook on the Australian dollar and overall markets. The benchmark finished down just 6 points. Despite the drop, stocks are 0.40% up over the last five days. Stay tuned for live updates on pivotal economic indicators.
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ASX Share Market Declines Amidst Economic Forecast Downgrades

ASX's Recent Performance

The Australian share market closed slightly lower today as economists revised their GDP forecasts, stirring unease in the markets.

Market Overview

As a result of the downtrend, the benchmark has finished barely down 6 points, with Mineral Resources and Liontown both suffering losses of -8.45%. Over the last week, the index has gained 0.40%, keeping it only 0.56% off its 52-week high.

Implications for the Australian Dollar

This downgrade in forecasts has implications on the AUD as it responds to market perceptions and investor confidence. Upcoming GDP figures are keenly awaited and could lead to further fluctuations in Australian stocks.

Check back tomorrow for live updates on GDP and broader market movements!


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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