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Gold Jumps, US Dollar Drops on NFP Miss, Fed Tapering Still a Done Deal

USD, NFP Price Analysis & News: US NFP 194k vs 500k, Prior Reading Revised Higher. Unemployment Rate Drop Overstated by Labour Force Dip. Fed Tapering a Done Deal. NFP MIXED AS HEADLINE MISSES, REVISION UPGRADED, WHILE UNEMPLOYMENT RATE BEATS A much weaker than expected NFP headline at 194k vs 500k, while the prior reading had been revised higher to 366k from 235k. The unemployment rate fell 0.4ppts to 4.8% dropping below expectations of 5.1%. Now while the
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Market News

US Dollar Strength Underpinned by Higher Treasury Yields, Non-Farm Payrolls Near

US DOLLAR PRICE, CHART, AND ANALYSIS US 10-year bond yields print a fresh four-month high. US Jobs Report a make-or-break for further US dollar strength. The yield on the benchmark US Treasury 10-year is popping higher, aided by news overnight that the US Senate voted to extend the debt ceiling until December, pushing back market fears of a government default. The Senate agreed by a vote of 50-48 to increase the debt limit by $480 billion to enable the government to pay it
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Market News

Gold Prices May Fall on Rosy NFPs after US Senate Temporarily Lifted Debt Ceiling

GOLD, XAU/USD, TREASURY YIELDS, NON-FARM PAYROLLS, US DOLLAR, TECHNICAL ANALYSIS - TALKING POINTS: Gold prices fall, Treasury yields rise on interim US debt ceiling solution. An upbeat non-farm payrolls report risks accelerating XAU/USD losses. Falling Wedge breakout losing momentum, retail traders reduce short bets.   Gold prices aimed cautiously lower over the past 24 hours. The anti-fiat yellow metal was left vulnerable as the ongoing rise in Treasury yields
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Dividend Adjustment

Dividend Adjustments 11th October 2021 - 18th October 2021

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 11th October 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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Market News

Equities Q4 Fundamental Forecast: Short-Term Uncertainties But Longer-Term Fortunes

S&P 500, Dow Jones, Nasdaq 100 Outlook. China’s So-Called Lehman Moment. Global Tapering Underway.   Throughout the third quarter, there had been somewhat of a reversal in the reflation trade as concerns over the peak in the global growth lingered, alongside the continued spread of the Delta variant. However, despite this, life after lockdown continues as vaccination rates across the globe pick up and while the latest concerns stemming from China have catalysed m
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Market News

FTSE 100 Price Outlook: Global Stock Market Rally May be Short-Lived

FTSE 100 PRICE, NEWS AND ANALYSIS: Several factors are lifting stock markets near term, including hopes that an agreement on the US debt ceiling is close, Putin’s offer to stabilize the world energy markets and a potential meeting of Xi and Biden. However, worries about China persist, and this rally may just reflect some short-covering and dip-buying before stock markets head lower again.   FTSE 100 RALLY MAY NOT LAST LONG World stock markets, including London’s,
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Market News

USD Breaking News: Bullish Dollar Environment Holds as ADP Beats Estimates

U.S. DOLLAR ANALYSIS 568K ADP print favors further dollar gains. Higher yields giving impetus to further dollar upside. Focus shifts to Friday’s NFP data.   DOLLAR FUNDAMENTAL BACKDROP ADP SURPASSES EXPECTATIONS The ADP employment change data for September hit 568K, significantly exceeding forecasts. Leading up to the ADP announcement, the U.S. dollar index lessened slightly as markets awaited the data print but quickly regained its upside momentum. A
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Market News

GBP/USD At Risk of Being a Victim to BoE Rate Bets, Why is NZD Weak After RBNZ Hike?

NZD, GBP ANALYSIS AND NEWS RBNZ Hikes Rates for the First Time in 7yrs, NZD Underperforms The Pound is Likely to be Another Victim of Aggressive Tightening Bets RBNZ HIKES RATES FOR THE FIRST TIME IN 7YRS Overnight, the RBNZ raised interest rates by 25bps to 0.75%, marking the first hike in 7-years. The Bank also signalled that further withdrawal of stimulus will be needed. However, the initial move higher in the Kiwi had been quickly pared with the currency subsequen
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Market News

Canadian Dollar Caged in by Inflation Favouring USD on Energy. Where to for USD/CAD?

CANADIAN DOLLAR, USD/CAD, US DOLLAR, INFLATION, US YIELDS - TALKING POINTS: The Canadian Dollar was overwhelmed by US yields despite sky-high crude oil. APAC equities lost ground as inflationary fears from energy markets grow. USD stronger, including against commodity currencies. Where to for USD/CAD?   The Canadian Dollar retreated today as the US Dollar found support, with yields moving aggressively higher on inflationary fears. The energy surge continues, wi
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Market News

British Pound Outlook: GBP/USD, GBP/JPY May Rise as Retail Traders Gradually Sell

BRITISH POUND, GBP/USD, GBP/JPY, TECHNICAL ANALYSIS, RETAIL TRADER POSITIONING - TALKING POINTS: Retail traders increasingly bet that the British Pound may weaken. Contrarian signals hint that GBP/USD and GBP/JPY could rise. Sterling rectangle breakout struggles, GBP/JPY facing triangle.   According to IG Client Sentiment (IGCS), retail investors are increasingly betting that the British Pound may weaken against the US Dollar and Japanese Yen. IGCS can at times
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Analyst article

S&P 500 and Dow Jones Stage Strong Rally as Dip Buyers Step In - Now What?

S&P 500 AND DOW JONES TALKING POINTS: S&P 500 and Dow Jones rally and wipe out most of Monday’s losses Tech and financial-oriented companies lead the charge higher Traders now await the September NFP report, which could influence the FOMC’s decision on when to taper assets purchases Most read: Nasdaq 100 Nears One-Year Channel Support, Key Technical Levels to Watch After a broad-based sell-off at the start of the week, U.S. stoc
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Market News

British Pound (GBP) Price Outlook: GBP/USD Downtrend May Resume

GBP PRICE, NEWS AND ANALYSIS: After its decent rally since the end of last month, GBP/USD now looks likely to fall back, although it could remain around the 1.36 level for a while first. Talk in the UK media of stagflation persists, and a dire set of new car registration figures will do nothing to counter that narrative.   GBP/USD COULD HOLD STEADY, THEN DROP GBP/USD is in an interesting position, having rallied from the September 29 low at 1.3412 to around 1.36.
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Market News

US Dollar Leaps as Energy Soars and Equities Struggle. Will USD Make a New High?

US DOLLAR, CRUDE OIL, AUD/USD, RBA, PBOC, RBNZ - TALKING POINTS: USD rallied as equities came under pressure amid a tech rout. RBA delivered as expected, RBNZ ahead may not be clear cut. Energy in hot demand. What does it mean for USD from here?   The US Dollar gained ground against all the majors on safe-haven buying. The commodity currencies – AUD, CAD, NOK and NZD – lost more ground than others as risk-off sentiment permeated markets. Crude oil maintain
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Market News

Oil prices trading at multi-year highs following OPEC-plus news

In this article we break down the OPEC+ decision to limit output increases and look at how crude prices are reacting to the news.    Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Tuesday 05 October 2021. IG Oil prices trading at multi-year highs on OPEC-plus news Oil prices have continued to gain, trading to multi-year highs following a meeting between the Organisa
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Market News

Markets Q4 Outlook: Dow Jones, US Dollar, Gold, Fed, Euro, ECB, Oil, Volatility Returns?

Markets Q4 Outlook As investors head into the fourth quarter, the VIX Volatility Index - often referred to as the market’s ‘fear gauge’ - is in an uptrend. In September, US benchmark stock indices saw some of the worst monthly performance since March 2020. In fact, the S&P 500 and Nasdaq 100 finished the third quarter little changed. More importantly, they trimmed most of their gains. The Dow Jones declined. Most of the market jitters unfolded into the tail end of the third qu
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Market News

GBP/USD Bounce Rejected at Key Fibonacci Level as USD Sellers Struggle For Momentum

TALKING POINTS: GBP/USD faces strong resistance just below 1.36 With a light economic calendar this week, focus will be on NF data out on Friday. GBP/USD is struggling to break above a key Fibonacci level despite continued support from buyers. The pair has managed to stage a good comeback since last Thursday as the US Dollar has come off slightly from its impressive rally last week but there isn’t a clear path higher as resistance looms close by. The area between the
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