FX.co ★ ASX 200 Logs 3rd Weekly Gain Despite Further Daily Loss

The ASX 200 fell 65 points, or 0.7%, to close at 9,082 on Friday, extending the previous session’s losses. Sentiment weakened as Nasdaq futures declined in the wake of Thursday’s Wall Street sell-off, following Nvidia CEO Jensen Huang’s resignation amid an ongoing scandal. Higher oil prices also pressured the market after US President Trump said a deal with Iran was unnecessary. Caution prevailed ahead of next week’s October labor data, after a higher September jobless rate and a drop in employment. Gold miners retreated on softer bullion prices, with Northern Star Resources and Evolution Mining down 2.8% and 2.9%, respectively. BHP Group slipped 1.3%, and Rio Tinto lost 0.7% on weaker iron ore prices and a stronger US dollar. Meanwhile, performance among the big four banks was mixed, while Ampol gained 0.7%. Despite Friday’s decline, the index advanced 0.7% for the week, its third consecutive weekly rise, supported by sustained buying interest and hopes that the RBA could pause its tightening cycle after five rate hikes this year and recent softness in consumer and business sentiment.