ASX 200 posts worst quarterly performance since Q2 2022

The news: The benchmark ASX was lifted by mining stocks on Friday, gaining 0.34% to finish the week at 7,048.60. But it also rounded out its biggest quarterly drop (-2.65%) since 2022's second quarter. The All Ordinaries performed on par with the ASX for the day, but is 0.28% lower than this time last week. The Aussie has staged a recovery bounce since Thursday morning, up 0.67% today and currently fetching 64.7 US cents, its highest price since 21 September.

The numbers: The benchmark ASX 200 lost 3.1% over September, while the Aussie fell by 0.3% against the greenback over the month after losing 3.6% in August. Mining stocks gained 1.2% and buoyed the ASX as BHP, Fortescue and Rio rode higher iron ore prices to gain more than a percentage point each. Energy stocks lost 0.6% after oil prices rolled over at the end of the week after hitting new annual highs. Brent Crude is sitting at USD95.14 per barrel after hopes of supply increases from China and Saudi Arabia helped ease inflation concerns for now.

The context: The US Personal Consumption Expenditures price index will be released overnight, and China will release manufacturing PMI data at 11:30am AEST tomorrow. Monday is a bank holiday in China and most Australian states. New RBA governor Michele Bullock will deliver her first interest rate meeting decision on Tuesday, with analysts expecting her to keep the cash rate on hold at 4.1%. Federal Reserve chair Jerome Powell will address a roundtable in New York overnight on Monday.