ASX 200 likely to trade lower in weekend markets
ASX futures are trading marginally lower suggesting the ASX 200 will likely trade lower on weekend markets with IG.
ASX futures are trading marginally lower, but with Australian stocks seemingly unable to rally this week unlike their European and US counterparts, the ASX 200 is likely to edge lower on IG's weekend markets.
ASX futures are down 1% 17:00 (GMT) on Friday, with the ASX 200 closing marginally higher on Friday at 4816.
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ASX remains unable to rally like European and US counterparts
ASX futures have remained aloof from the rebound in equities since the lows of the week, moving up by just 3% compared with the bigger bounces in Europe and the US. according to Chris Beauchamp, chief market analyst at IG.
‘While the price has not made real inroads below 4800, suggesting a short-term low, with it failing to break through 5000,’ he added. ‘Other indices have seen some higher highs and higher lows intraday, but the ASX remains unable to rally.’
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What is weekend trading?
Weekend trading gives you access to forex, indices and cryptocurrency markets on a Saturday and Sunday. So, if news breaks about the ongoing coronavirus pandemic – or central bank measures to ease the strain on global markets are announced – you no longer need to wait until markets open on Monday to trade.
The weekend prices for indices and forex are quoted separately to their weekday counterparts, based on our view of the prospects for that market given client business and news flow. As a result, you can use these markets to hedge against risk on your weekday positions. Weekend indices and forex positions will rollover into regular weekday positions if they are kept open after the Sunday close, with any stops or limits remaining in place.
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