CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that 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

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