FX.co ★ Australian Stocks End Slightly Lower

The S&P/ASX 200 experienced a slight decline of 0.1% on Wednesday, closing at 8,579, and marking its third consecutive session of losses. This downturn was primarily driven by the underperformance of technology stocks and the financial sector. Technology shares fell by 1.5%, reaching a two-week low, with companies such as Wisetech (-1.9%), Technology One (-1.3%), and Xero (-2.1%) reflecting similar declines in the U.S. market. In the financial sector, a 0.4% decrease occurred, with three of the "Big Four" banks closing in negative territory. Investor sentiment remained restrained following the Reserve Bank of Australia's decision to maintain the current cash rate, which diminished prospects for further monetary policy easing. Attention is now turning to Australia's upcoming November employment data, expected on Thursday. Globally, markets are keenly anticipating the U.S. Federal Reserve's policy announcement later today, where a reduction of 25 basis points is anticipated. In contrast, gold stocks surged by 4.1%, their most significant intraday increase since September 22, supported by rising gold prices amid optimism regarding a potential interest rate cut by the Fed. Additionally, the broader mining sector showed a 1.5% improvement.