FX.co ★ Australian Shares Dip as Miners Drag on Weaker Commodities

On Friday, the S&P/ASX 200 Index experienced a minor decline of 0.1%, settling at approximately 8,140, thereby ending a six-day streak of gains. The downturn was primarily driven by a decrease in mining stocks, resulting from a decline in metal prices. Commodities such as iron ore, copper, and gold saw reduced values due to renewed concerns about a global economic slowdown. This occurred amidst improving U.S. trade prospects, which contributed to a stronger dollar. Market sentiment took a turn following U.S. President Donald Trump's indications of possible trade agreements with India, Japan, and South Korea, alongside his expressed optimism regarding the trade dispute with China. The most significant losses were observed in major mining companies, including BHP Group (-1.2%), Northern Star Resources (-1.3%), Fortescue Metals (-0.3%), Evolution Mining (-0.4%), and Pilbara Minerals (-2.6%). Despite the decline observed on Friday, the ASX 200 remains on a positive trajectory for a third consecutive weekly gain, having recovered nearly half of the losses since mid-February.