CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

The ASX in 5: ASX 200 edges higher on strength in mining stocks

We highlight five things that investors and traders need to know on Thursday, 29 July.

US Federal Bank walks the middle road

Last night’s meeting of the US Federal Reserve passed without much fuss. The Fed opted to take the middle road, simultaneously reassuring markets it remains focused on supporting the economy, whiling subtly hinting its getting close to unwinding emergency policy support. Crucially, the Fed altered its guidance to suggest its pursuing “further progress” rather than “substantial further progress” towards meeting its inflation and jobs market targets. The markets proved largely unfazed by the meeting, with the US 500 finishing the night’s trade flat, and the US ten-year yield closing only slightly lower.

Facebook falls victim to high expectations

Facebook Inc (All Sessions) was the latest tech giant to deliver quarterly results for the week, and true to trend, the company delivered better than expected revenue and earnings. Revenue for the quarter came in at $29.08 billion against the $27.86 billion estimate, while EPS exceeded expectations at $3.61 versus the $3.02 forecast. Despite the stellar numbers, and also true to the week’s trend, Facebook share’s fell in post-market trade following the release of results, with investors seemingly latching onto warnings from the company of slowing future growth.

ASX 200 as mining stocks jump

The Australia 200 has rebounded today after yesterday’s decline, with Australia’s benchmark index gaining 0.3% as of mid-afternoon trade. Though there’s be several pockets of strength for the market, it’s been continued strength amongst the miners that’s driven a large part of the index’s gains. The materials sector is up over 8% in the last month, and was given a boost by Rio Tinto Ltd's earnings reported last night. It’s shares are up by around 1.7% today, after reporting a bumper set of results, that included an interim dividend of $3.76 per share, and a special dividend of $1.85, with rally coming despite warnings from the company of a likely slow down in revenues in the future.

Gold starts reacting to real rates

Gold has been a listless trade in recent weeks, despite some movement in the US Dollar, and a historic drop in US real rates this week. The ten-year real yield, a rate the price of gold is historically highly correlated to, hit 1.17% overnight following the US Federal Reserve’s meeting and a new record low. The price of gold has pushed towards $US1820 at stages in Asian trade today, still some way from $US2070 per ounce price of gold in August last year when real rates were last this low.

Learn how to trade gold.

Attention turns to US GDP data

The highlight of the night’s trade will come in the form of US GDP data for the second quarter, with another period of stellar growth predicted for the US economy. Consensus estimates is for growth to have expanded by 8.5% Q/Q, up from 6.4% in the previous quarter.

Do you have a view on the markets? Whatever you think, you can use CFDs to trade stocks and other assets, through IG’s world-class trading platform.

For example, to buy (long) or sell (short) a variety of local and international stocks using CFDs, follow these easy steps:

  • Create an IG Trading Account or log in to your existing account
  • Enter <Company name> in the search bar and select it
  • Choose your position size
  • Click on ‘buy’ or ‘sell’ in the deal ticket
  • Confirm the trade

For investors not looking to trade stocks, you can invest in shares directly through our share trading service.


This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.