ASX sags 0.15%, Aussie slides as inflation lifts

The news: The Australian sharemarket edged lower on Wednesday, with the benchmark ASX 200 losing 0.11% to finish at 7,030.30. The All Ordinaries closed 0.12% lower. The Aussie dollar lost almost 0.5% and was fetching 63.7 US cents after Australia's annual CPI met expectations of 5.2%, up from last month's 4.9% figure.

The numbers: Most sectors traded relatively flat, with only IT stocks coming close to shifting a full percentage point, losing 0.96%. Health care stocks lost 0.69%, despite a 4.8% recovery by ResMed, with large caps CSL, Cochlear and Sonic Healthcare all finishing in the red.

The context: The ABS will release retail trade data at 11:30am AEST tomorrow. US data on oil inventories and durable goods orders are due overnight, along with a speech from Swiss National Bank chair Thomas Jordan. Quarterly US GDP and unemployment figures will follow on Thursday night.