Continuing its decline for the fifth consecutive session, the ASX experienced a downturn as the S&P/ASX 200 closed 6.9 points, or 0.1 per cent lower at 7605.6.

Australian shares extended their losses this week, primarily driven by the indication from the US Federal Reserve that rate cuts might not occur in the near future. This contributed to further declines in the Australian stock market, compounding the losses already experienced earlier in the week.

Australian shares experienced significant losses on Tuesday, following a decline on Wall Street fueled by strong US retail sales data, dampening expectations of interest rate cuts by the Federal Reserve and the Reserve Bank.

Australian shares declined sharply following stronger-than-expected US retail sales data, dampening hopes for interest rate cuts and triggering a 1.26 per cent drop to the S&P/ASX 200, marking the third consecutive session of losses.

Australian shares slipped in the final session of the week as US Federal Reserve officials emphasised the need for patience in addressing global inflation concerns. At 11:30am, the S&P/ASX 200 is 0.27 per cent lower at 7,792.50, with most sectors trending downwards, particularly Energy.

Shares rebounded on Thursday despite losses in technology and property sectors following higher-than-expected US inflation data, which led to a 0.4% decline in the S&P/ASX 200 index.

At 11:30am, the S&P/ASX 200 is 0.86 per cent lower at 7,781.00, as investors sold off interest rate-sensitive sectors such as property, tech, and banking stocks due to the postponement of anticipated US interest rate cuts until November.

On Wednesday, the Australian sharemarket saw a 0.3% increase in the benchmark S&P/ASX 200 Index, reaching 7848.5 points, predominantly driven by a surge in mining stocks attributed to optimistic forecasts regarding iron ore consumption.

Australian shares opened higher, following a late rebound on Wall Street and a decrease in US Treasury yields ahead of the release of key US inflation data.

The Australian sharemarket closed higher on Tuesday, buoyed by a 0.5% gain in the benchmark S&P/ASX index to 7824.2 points, primarily driven by a 1.5% surge in the materials sector, amidst speculation of increased iron ore demand from China.

The March NAB Business survey indicated that business conditions and confidence remained relatively stable, with positive trends observed in the retail and construction sectors despite ongoing challenges, particularly in rate-exposed industries.

The Australian sharemarket closed slightly higher on Monday, with the S&P/ASX gaining 0.2 per cent to 7789.1 points, despite a tumultuous session for several ASX 200 members.

The ASX is advancing in the initial session of the week, primarily driven by the strength of technology stocks, following Friday's tech-driven surge on Wall Street.

The Australian sharemarket ended Monday's session almost unchanged, with the S&P/ASX 200 closing marginally higher by 0.07 per cent at 7675.8 points, driven by late-session recovery but still witnessing losses in the real estate sector due to caution surrounding the Reserve Bank of Australia's upcoming decisions.

The Reserve Bank of Australia commenced its two-day meeting, expected to maintain current interest rates, although markets are pricing in a potential rate cut in September despite signals from RBA governor Michele Bullock and her predecessor, Philip Lowe, suggesting the possibility of further rate increases.

Australian shares declined by 1.1% early in the trading session, mirroring losses in New York, as concerns over US inflation data suggested a cautious approach by the Federal Reserve towards rate cuts.

On Thursday, the Australian sharemarket slightly declined by 0.2 percent, driven primarily by a downturn in the financial sector, particularly among the major banks, offsetting gains in the mining sector sparked by a rally in copper prices following potential production cuts by Chinese smelters.

Australian shares opened lower with a 0.2% decline in the S&P/ASX 200, attributed to a 1.1% drop in financials, driven by downgrades from Macquarie on the big four banks, while the materials sector rose by 1.5% due to rebounds in iron ore miners Rio Tinto, BHP, and Fortescue, following three-month lows earlier this week.

Shares rose by 0.2 percent as investors monitored US inflation, interpreting it as not hindering the Federal Reserve's potential interest rate cut by mid-2024.

The S&P/ASX 200 opened with a 0.2% increase, driven by gains in retail and healthcare sectors despite declines in energy and resources.