FX.co ★ Australian Shares Snap 3-Session Win Streak

On Wednesday, the S&P/ASX 200 index fell by 0.6% to approximately 8,790, concluding a sequence of three consecutive gains. This decline was primarily due to investor caution in anticipation of Australia’s inflation data for August. The upcoming report precedes next week’s Reserve Bank of Australia (RBA) policy meeting and is expected to indicate a slight increase in inflation. A result exceeding expectations could constrain immediate policy easing, whereas a weaker reading might endorse additional policy relaxation later in the year. Investor sentiment was further dampened by disappointment over China's recent policy measures, which did not meet expectations set by earlier comments from senior financial regulators. In Sydney, declines in sectors such as technology, mining, and healthcare exerted downward pressure on the index, following a negative lead from Wall Street after Federal Reserve Chair Jerome Powell provided no indication of an interest rate cut during the October meeting. Among notable stocks, the "Big Four Banks" experienced declines of 0.5% to 1%, Wisetech and Xero saw drops of 1.8% and 1.1%, respectively, and Telix continued its downward trend with a 2.4% loss.