FX.co ★ Australian Shares Fall Ahead of Jobs Data

On Thursday, the S&P/ASX 200 declined by 0.2%, dropping below the 8,520 mark and reaching a two-week low. Investors are on edge as they await important employment statistics set to be released later today. A robust report could disrupt market predictions of a rate cut in the upcoming month, while also shedding light on the economy’s strength following a series of less-than-stellar reports, such as a weaker-than-anticipated GDP growth in the first quarter. Meanwhile, on the international front, markets are processing the Federal Reserve’s choice to maintain current interest rates, as officials adopt a cautious approach in response to inflation concerns stemming from then-President Donald Trump's tariffs. Heightened geopolitical tensions are exacerbating pressures, particularly the sustained conflict between Israel and Iran, which raises concerns about increased US military involvement in the Middle East. Within the stock market, significant declines were observed in companies like BHP Group, Goodman Group, WiseTech, REA Group, and Xero, each registering losses exceeding 1%.