FINSOC Weekly Wraps Vol.17

Jul 22, 2021 Weekly Wraps

• RBA announces to keep interest rates on hold at record low level of 0.1% until 2024
•OPEC rile over oil production curbs remains unresolved, with talks to resolve disagreement postponed indefinitely since Monday
• ASX falls as investors retreat from risky assets due to current delta variant COVID outbreak, fearing that economic recovery could stall.
• Tech stocks perform the worst this week, with Appen dipping 9% and Xero falling 2.4%.
• Dogecoin falls 7% after Youtuber and dogecoin investor Matt Wallace announces intention to move away from Dogecoin.