ASX 200 slips into the red again, Aussie dollar stable

The news: The ASX 200 lost 0.46% to close at 7,163.30 on Wednesday, while the All Ordinaries lost 0.45%. The Aussie dollar held steady at around USD0.64 .

The numbers: Energy led the losses down 1.8%. Woodside lost 2.1% to $37.00 while New Hope shaved off yesterday’s boost in share price, dropping nearly 2.3% to $6.15. Materials also went backwards by 1.2%. BHP was down 1%, FMG 1.7% and Rio Tinto 1.3%. Information technology was also in the red with Xero losing 2.8% and Technology One 0.8%. Consumer discretionary and staples bucked the trend gaining 0.3%. Aristocrat Leisure gained 2.9% to finish at $42.23 while Woolworths and Treasury Wine both had positive gains. Financials were down marginally despite major banks copping a grilling at a Senate inquiry into regional bank closures.

The context: Investor confidence is still hinging on any communication from the Federal Reserve as it meets to determine interest rates in the US later tonight. The Fed is also due to release its 'dot plot', which would provide a glimpse into the Federal Open Markets Committee's forecast trajectory for interest rates, inflation and economic growth. Meanwhile, the Bank of England said CPI dipped to 6.7% in August after expectations it would reach 7.1%. The central bank will meet on Thursday when it is tipped to deliver its 15th consecutive rate rise.