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Tesla Drops as Elon Musk Proposes to Sell 10% Tesla Stake After Twitter Poll

Tesla (TSLA) Analysis & News: Elon Musk Proposes to Sell 10% Stake in Tesla in Twitter Poll. Poll Result in Favour of “Yes” Tesla Gaps Lower by 7.5%, But Don’t Rule Out Quick Recovery. Over the weekend, Elon Musk took to Twitter to tweet a poll, saying that “much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock”. He added that he would abide by the results of the poll. As such, the final results of the

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US Dollar Soars on Higher Yields and Bank of England No-Go. Where to for USD?

US Dollar, Bank of England, Treasuries, OPEC+, Crude Oil, Japan - Talking Points: USD moved up as bond markets reeled from Bank of England inaction. OPEC+ stuck to plan and disregarded political pressure to up production. Asian markets digested overnight moves. Will USD uptrend continue?   The US Dollar rallied in the aftermath of the Bank of England keeping rates on hold. The market had priced in a 15-basis point hike. That makes 3 from 3 central banks keeping

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Crude Oil Price Outlook: WTI Eyes NFPs After OPEC+ Output Decision as Trend Breaks

CRUDE OIL, WTI, OPEC+, NFPS, TECHNICAL ANALYSIS - TALKING POINTS: Crude oil prices aimed lower despite OPEC+ output hike hold. Markets bet US may release more strategic petroleum reserves. WTI eyeing NFPS as positioning data offers a bearish outlook.   Crude oil prices aimed lower over the past 24 hours. This is despite OPEC and its allies, known as OPEC+, deciding to maintain oil output increases at 400k barrels per day for December. This came as a disappointm

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Dividend Adjustments 8th November 2021 - 15th November 2021

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 8th November 2021. These are projected dividends and likely to change. IG cannot be held responsible for any changes made. Dividends highlighted in red include a special dividend, therefore some or all of the amount will not be adjusted. Amount in brackets is the expected adjustment after special dividends excluded (where shown on major indices). Dividend adjustments due to be posted o

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GBP Price Outlook: GBP/USD Downside Beckons Despite Likely UK Rate Hike

GBP PRICE, NEWS AND ANALYSIS: The Bank of England’s monetary policy committee is almost certain to raise UK Bank Rate to 0.25% today from the current 0.10%. However, that 15bps increase has been fully priced in by the markets already and GBP/USD is therefore more likely to weaken than strengthen in response.   RISK TO THE DOWNSIDE FOR GBP/USD GBP/USD is looking fragile around current levels, with a 15 basis point rate increase to 0.25% by the Bank of England’s mo

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Gold Prices Eye NFP Report After FOMC Steepens Yield Curve, Drags USD

GOLD, XAU/USD, FED, YIELD CURVE, NFP JOBS REPORT – TALKING POINTS: Gold prices reacted to the upside following the Fed’s taper announcement. Bullion traders eye Friday’s non-farm payrolls report for next directional move. XAU/USD faces confluent resistance from key moving averages.   Gold prices moved higher following the Federal Reserve’s interest rate decision Wednesday. The Fed opted to begin tapering asset purchases, a move analysts have speculated over for

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Crude Oil Tanks Ahead of OPEC+ and Against Upbeat Tone Post FOMC. Can WTI Get a Grip?

CRUDE OIL, OEPC+, FED, FOMC, BANK OF ENGLAND - TALKING POINTS: Crude oil prices slid as the WTI contract traded under US$80 a barrel. Post-FOMC environment is positive after all main US indices hit highs. All eyes on the BoE and OPEC+ meetings. Has crude seen the top for now?   Crude oil slipped on a larger than expected increase in inventory, data released in the US revealed. Figures from the Energy Information Administration / Department of Energy petroleum s

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Petrocurrencies RUB, CAD and NOK at Risk as Oil Price Outlook Worsens

RUB, CAD AND NOK: PRICES, NEWS AND ANALYSIS: US inventories of crude oil are rising and OPEC+ will likely agree a small output increase when it meets tomorrow, putting downward pressure on oil prices. That’s negative for petrocurrencies such as the Russian Ruble, Canadian Dollar and Norwegian Krone, and therefore positive. for USD/RUB, USD/CAD and EUR/NOK.   PETROCURRENCIES UNDER DOWNWARD PRESSURE The climb in crude oil prices that began in mid-August has run out

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US Dollar Flexes Against British Pound Ahead of the Fed and BoE. Where to for GBP/USD?

US DOLLAR, BRITISH POUND, GBP/USD, BOE, FED,CHINA, AUD/USD - TALKING POINTS: The US Dollar has rallied against most G10 currencies this week ahead of the Fed. APAC equities were mixed today, and generally, commodities have moved lower. All eyes are on the key central banks’ meetings. Will the USD resume its uptrend?   The US Dollar has made ground in a week full of central bank action. The RBA led the way yesterday, stepping back from yield curve control having

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Crude Oil Prices at Risk with FOMC, OPEC+ Meetings in the Spotlight

CRUDE OIL OUTLOOK: Crude oil prices may decline if the Fed dials up hawkish rhetoric. OPEC+ unlikely to yield to US-led calls for faster output increase. Chart positioning hints WTI momentum flagging at 7-year high.   Crude oil prices are trading water having settled in a range after hitting a 7-year high below the $86/bbl figure last week. An intraday bounce was capped yesterday as October’s US ISM manufacturing report showed sector growth slowing even as inpu

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British Pound (GBP) Price Outlook: GBP/USD Falling Ahead of BoE, Fed Meetings

GBP/USD PRICE, NEWS AND ANALYSIS: GBP/USD is weakening ahead of tomorrow’s monetary policy decision by the US Federal Reserve and Thursday’s policy announcement by the Bank of England. The Federal Open Market Committee is expected to decide to wind down its bond-buying program but opinions are divided over whether the Bank of England will increase UK interest rates or leave them where they are.   GBP/USD TRENDING LOWER NEAR-TERM GBP/USD is looking weak ahead of t

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British Pound (GBP) Outlook Increasingly Uncertain on Fish Wars and BoE/Fed Decisions

GBP/USD Price, Chart, and Analysis: Tensions increase in UK/France fishing dispute. Important BoE and Fed policy meetings next week.   Anglo-French relations are hitting a new low as the fishing row between the two countries escalates. France detained a British trawler yesterday, and is set to fine its owners, to the anger of the UK government who have now summoned the French ambassador to the UK for a formal explanation of France’s actions. The UK government will als

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US Dollar Price Action Set-Up: Euro Bounce Back, Month-End Rebalancing Eyed

USD, EUR, ECB PRICE ANALYSIS & NEWS: Euro Bounce on Lagarde’s Marginal Pushback. Eyes on Month-End Rebalancing. EURO BOUNCE ON LAGARDE’S MARGINAL PUSHBACK The Euro has thus far held a large portion of yesterday’s gains, which stemmed from ECB President Lagarde’s marginal attempt at pushing back against current market pricing for ECB rate hikes next year. While the President noted that market pricing is not in line with ECB guidance, Lagarde then went on to say tha

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