FX.co ★ Aussie Shares Finish Nearly Flat

The S&P/ASX 200 closed with minimal change, settling at 8,846 on Wednesday. The rise in gold stocks was tempered by declines in mining shares, as investors considered the Reserve Bank of Australia's prudent approach regarding interest rate cuts. The central bank maintained its key interest rate at 3.6%, indicating that any reduction would depend on weaker economic growth, which led analysts to adjust their predictions, pointing to mid-2026 for the next potential easing. While investors had anticipated no immediate change, they await the third-quarter inflation data set for release in October. Current market swaps indicate a 64% probability that rates will remain unchanged in November. On the trading floor, gold stocks advanced 0.5% to reach an all-time high, bolstered by the ongoing demand for safe-haven assets following the shutdown of the US government. This marked the fourth consecutive day of gains for the gold sector, with Northern Star shares increasing by 0.8%. In contrast, the mining sector experienced a 0.9% decline, driven by a nearly 2.5% decrease in BHP stock after reports emerged regarding China's state iron ore purchaser halting its acquisitions from the company. Energy stocks also fell, down by 0.4%, influenced by a 0.8% drop in Woodside Energy, correlated with a slight easing in oil prices.