Your capital is at risk. CFDs can result in losses that exceed your initial deposit. Please ensure you fully understand the risks involved. Your capital is at risk. CFDs can result in losses that exceed your initial deposit. Please ensure you fully understand the risks involved.

The ASX in 5: Stocks rebound after Delta scare

We highlight five things that investors and traders need to know on Wednesday, 21 July.

US investors buy-the-dip

After yesterday’s swoon for global stock markets on growing concerns about the Delta variant’s spread, US investors have used the opportunity to “buy-the-dip”. The S&P500 rallied 1.52% overnight, led by a bounce in cyclical stocks, as the index rebounded off key support around its 50-day moving average.

Oil prices recover

Oil prices also found buyers after Monday’s nearly 7% drop, but the move did little to compensate for the full extent of the sell-off. Focus in energy markets has shifted from the supply side, to future demand fears, after OPEC+ members managed to agree to a 400,000 barrel per day increase in production over the weekend.

Australian retail sales contract

Australian retail sales data showed a major contraction in retail consumption in the economy last month, dropping -1.8%. Commenting on the move, Ben James, Director of Quarterly Economy Wide Surveys, said: "June’s fall in turnover was due to the impact of coronavirus restrictions across multiple states..."

Australian Dollar remains under pressure

The Australian Dollar remains one of the G10’s major underperformers, as diminished risk appetite in global markets, as well as the COVID-19 related lock downs in New South Wales and Victoria, cloud the outlook for the Australian economy. The AUD/USD test the 73 cent level in US trade overnight, as markets bet on delayed policy tapering from the RBA.

Trade the Aussie dollar here.

ASX 200 rises, but falls from day’s highs

The ASX 200 has followed Wall Street’s overnight lead, to have surged above the 7300 level again. The index has dropped from its intraday highs however, as volatility remains relatively elevated. The gains have been underpinned by a broad-based rally for the index, with 10 out of 11 sectors currently trading in positive territory.

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 Markets 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.

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. All share prices are delayed by at least 20 minutes. Prices are indicative only.

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.