FX.co ★ Australian Shares Slip as Commodities Drag

On Thursday, the S&P/ASX 200 Index slipped by 0.1%, falling just below the 8,120 mark and halting a five-day winning run. This downturn was primarily driven by declines in mining and energy shares, reflecting the impact of weakened commodity prices. Investor sentiment remained cautious as the market awaited Australia's latest trade figures, which are expected to shed light on the effects of intensifying global trade tensions on the nation's export-focused economy. On a more upbeat note, April data highlighted continued expansion in Australia's manufacturing sector, with new orders increasing at the quickest rate in nearly two and a half years, underscoring the robustness of the domestic economy. The decline in mining and energy stocks was notably influenced by BHP Group, which fell by 2.2%, and Northern Star Resources, Fortescue, Woodside Energy, and Santos, which saw respective declines of 0.8%, 0.6%, 2%, and 0.6%.