Business
Why outperforming ASX resources shares will be in the hotseat on Monday
Negative leads from Wall Street are likely to pressure our market on Monday and outperforming ASX resource shares could take the brunt of the sell-off.
The S&P 500 Index closed the week with a 0.5% loss while the Dow Jones Industrials Index fell 1.5%. The S&P/ASX 200 Index (Index:^AXJO) will probably kick off the trading week on a negative footing but it’s commodities-linked shares that will be in the hotseat.
This is because metals and oil took a big hit on Friday as the US dollar jumped, reported Bloomberg.
US dollar jump to knock ASX resource shares
The impact of the strengthening greenback can be seen against the Australian dollar, which tumbled from over US79 cents on Thursday to around US77 cents.
The Bloomberg Commodity…
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