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Top content from across the community, hand-picked by us.
Global Stocks Rebound After Worst Month Since 2012 - EMEA Brief 01 Nov
JoeIG posted a blog entry in Market News,
Global stocks rebound after worst month since 2012. Corporate earnings in the US and Europe have helped ease lingering worries over rising interest rates, trade tensions and a slowing global economy.
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Recovery in sight? - APAC brief 1 Nov
MaxIG posted a blog entry in Market News,
Written by Kyle Rodda - IG Australia
More information, greater confidence: Markets have been awash with data over the last 24 hours – and traders love it. It’s a behavioural quirk in financial markets: whether good, bad, or otherwise, an inundation of information paints a full and colourful picture of the world and satisfies that innate human desire for (an illusion) of control and certainty. The phenomenon echoes lessons that were reinforced upon the world all the way back in 2008 by one of that years’ seminal cultural events. No, not the zenith of the Global Financial Crisis, but Christopher Nolan’s The Dark Knight and Heath Ledger’s inimitable portrayal of The Joker. In a scene that epitomizes the philosophy of the uber-anarchist Joker, the character ruminates during a monologue: “Nobody panics when things go according to plan. Even when the plan is horrifying… nobody panics. Because it’s all part of the plan.”
Fundamentals unchanged: Why bring this up? Outside taking pause to remember a time before the ills of the GFC ailed the global economy, it sums-up quite well the attitude of market participants in times of turmoil. Yesterday saw the release of a swathe of economic and financial data, which assessed on balance, delivered unremarkable and mixed results. None of it fundamentally changed the outlook for the financial world, but the fact that it filled in some blanks and confirmed a few existing biases meant that everything, overall was judged to be ok. Herein lies the problem for now: the issues that ignited October’s sell-off have yet to disappear, meaning that markets remain just as liable to the extreme bouts of panic and volatility that last month delivered us.
More information, greater confidence: Markets have been awash with data over the last 24 hours – and traders love it. It’s a behavioural quirk in financial markets: whether good, bad, or otherwise, an inundation of information paints a full and colourful picture of the world and satisfies that innate human desire for (an illusion) of control and certainty. The phenomenon echoes lessons that were reinforced upon the world all the way back in 2008 by one of that years’ seminal cultural events. No, not the zenith of the Global Financial Crisis, but Christopher Nolan’s The Dark Knight and Heath Ledger’s inimitable portrayal of The Joker. In a scene that epitomizes the philosophy of the uber-anarchist Joker, the character ruminates during a monologue: “Nobody panics when things go according to plan. Even when the plan is horrifying… nobody panics. Because it’s all part of the plan.”
Fundamentals unchanged: Why bring this up? Outside taking pause to remember a time before the ills of the GFC ailed the global economy, it sums-up quite well the attitude of market participants in times of turmoil. Yesterday saw the release of a swathe of economic and financial data, which assessed on balance, delivered unremarkable and mixed results. None of it fundamentally changed the outlook for the financial world, but the fact that it filled in some blanks and confirmed a few existing biases meant that everything, overall was judged to be ok. Herein lies the problem for now: the issues that ignited October’s sell-off have yet to disappear, meaning that markets remain just as liable to the extreme bouts of panic and volatility that last month delivered us.
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Dollar at Yearly High as Markets Pare October Losses – EMEA Brief 31 Oct
IGAaronC posted a blog entry in IG Community Blog,
USD reaches its highest level this year as it breaches the 97.00 level it tested earlier this year, a level it hasn't seen since June 2017.
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ASX200 yesterday - APAC brief 31 Oct
MaxIG posted a blog entry in Market News,
Written by Kyle Rodda - IG Australia
ASX200 yesterday: It was a tale of two halves for the ASX200 yesterday, dipping at the open before roaring back to close the day’s trade 1.3 per cent higher. The dour beginnings came on the back of reports from Bloomberg – now well known – that the Trump Administration would be seeking to slap tariffs on (in effect) all Chinese imports into the US, if a deal couldn’t be achieved between US President Donald Trump and Chinese President Xi Jinping at next month’s G20 Summit. In a testament to the jumpiness of financial markets the world over currently, the tone changed in global markets upon the release of news that, in an interview with Fox News, US President Trump believed there was a “great deal” in the works between the US and China.
Sentiment in Asian trade: A highly ambiguous statement. Nevertheless, market participants – clinging onto every shred of hope – took the comments, bound them to their sense of optimism, and ran Asian equity indices generally higher. Breadth on the ASX200 was at a noteworthy 75 per cent, though on volumes slightly below last week’s average, with the major momentum/growth sectors topping the sectoral map. The financials, as is always required, did most of the heavy lifting, adding 30 points to the index, in part in preparation for upcoming company reports from the Big 4. The Australian market has now pulled itself out of oversold levels, to break-trend on the RSI, and in doing so, establishing the foundations for a challenge of a cluster of resistance levels between 5780 and 5880.
ASX200 yesterday: It was a tale of two halves for the ASX200 yesterday, dipping at the open before roaring back to close the day’s trade 1.3 per cent higher. The dour beginnings came on the back of reports from Bloomberg – now well known – that the Trump Administration would be seeking to slap tariffs on (in effect) all Chinese imports into the US, if a deal couldn’t be achieved between US President Donald Trump and Chinese President Xi Jinping at next month’s G20 Summit. In a testament to the jumpiness of financial markets the world over currently, the tone changed in global markets upon the release of news that, in an interview with Fox News, US President Trump believed there was a “great deal” in the works between the US and China.
Sentiment in Asian trade: A highly ambiguous statement. Nevertheless, market participants – clinging onto every shred of hope – took the comments, bound them to their sense of optimism, and ran Asian equity indices generally higher. Breadth on the ASX200 was at a noteworthy 75 per cent, though on volumes slightly below last week’s average, with the major momentum/growth sectors topping the sectoral map. The financials, as is always required, did most of the heavy lifting, adding 30 points to the index, in part in preparation for upcoming company reports from the Big 4. The Australian market has now pulled itself out of oversold levels, to break-trend on the RSI, and in doing so, establishing the foundations for a challenge of a cluster of resistance levels between 5780 and 5880.
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What will happen to the price of bitcoin if the SEC approve an ETF?
IGAaronC posted a blog entry in Market News,
Cryptocurrencies have been going through a period of relative stability, which is almost unheard of for the asset class that gained notoriety for its volatile price movements.
The stock market selloff that punished the tech sector in the first half of October coincided with Bitcoin losing 7.5% of its value in a single day. Does this correlation in market movements suggest that as Bitcoin and other cryptos have become more mainstream, and adoption by centralised financial institutions has risen, the price is now at the mercy of the same institutions and financial markets it was seeking to circumvent? Or could the selloff be more indicative of general investor sentiment at that time when confidence in the markets was low?
The stock market selloff that punished the tech sector in the first half of October coincided with Bitcoin losing 7.5% of its value in a single day. Does this correlation in market movements suggest that as Bitcoin and other cryptos have become more mainstream, and adoption by centralised financial institutions has risen, the price is now at the mercy of the same institutions and financial markets it was seeking to circumvent? Or could the selloff be more indicative of general investor sentiment at that time when confidence in the markets was low?
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Apple Announcement to take place in Brooklyn today - EMEA Brief 30 Oct
MichaelaIG posted a blog entry in Market News,
Apple hosting event in Brooklyn today, starting at 2pm UK time. New iPad announcements expected
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Asia and Europe Monday - APAC brief 30 Oct
MaxIG posted a blog entry in Market News,
Markets were generally experiencing a much-desired bounce for the better part of Monday, enabled by a day light on market moving information and data. The confirmed election of populist Brazilian leader Jair Bolsonaro boosted emerging market indices. News that German Chancellor Angela Merkel would be stepping down as leader of the governing CDU party, combined with a ratings downgrade of by Italian debt S&P, sent minor ripples throughout Europe, pricking some nerves about the state of the European Union and its economy. But the lack of event risk, dearth of corporate reports, and limited external news managed to keep negative sentiment in Asian and European trade relatively mooted, leading to a mixed day for Asian shares, and a generally solid-one for Europe’s.
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Post in Crude Oil (WTI)
PandaFace posted a post in a topic,
What are people’s thoughts after last weeks blood bath? Black gold is acting more like diesel sinking to the bottom of the distillate tower rather than jet fuel rallying to the top!
It’s worth remembering that US sanctions on Iran’s oil exports will resume on November 4 following Trump’s withdrawal from a nuclear accord. Prices in or not? Hard to tell.
It’s worth remembering that US sanctions on Iran’s oil exports will resume on November 4 following Trump’s withdrawal from a nuclear accord. Prices in or not? Hard to tell.
Post in EURUSD Trade
Mercury posted a post in a topic,
EURUSD on hourly, daily and weekly time frames, with a few prognosis and a couple of trading strategies. What more can you ask for from a Community post?
10 things to look out for in the UK budget
PandaFace posted a topic in General Trading Strategy Discussion,
Join the discussion: "Thought this may be useful for some. Seen a few articles on this, but I personally liked the FT one, but know it may cost some people to see so thought I’d give a quick synopsis."
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UK Annual Budget Plan to be announced- EMEA Brief 29 Oct
KatherineIG posted a blog entry in Market News,
Phillip Hammond to announce the last UK Annual budget plan before Brexit on Monday
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Global price action - APAC brief 29 Oct
MaxIG posted a blog entry in Market News,
The global equity sell-off continued during Wall Street's final trading session for the week, putting an end to a horrid 5 days for markets. True to form, it was the NASDAQ that led the losses in US trade, clocking a loss of 2.07 per cent, while the S&P500 shed 1.73 per cent itself. Volatility remained elevated and underscored the intense selling, maintaining a 24 reading throughout the session, prompting a flight to safety from investors. The dynamic pushed the yield on US 10 Year Treasuries to 3.07 per cent – their lowest rate in close to a month – driving the DXY temporarily above 96.80, the risk-off USD/JPY below trend line support, and gold prices briefly beyond resistance at $US1240.
The action followed on from a European and Asian session in which equity markets fared little better. Chinese equities wallowed once more, exacerbated by fears of financial instability in the face of a depreciating Yuan, after the PBOC’s currency fix pushed the USD/CNH above 6.97 for the first time in several years. The AUD/USD fell in sympathy with the Yuan, breaking through support at 0.7040, only to drift higher into the European session. The Pound and Euro came under pressure due to the US Dollar's strength, but stayed within the 1.28 and 1.13 handle, while European stocks crept towards their worst month in three years.
The action followed on from a European and Asian session in which equity markets fared little better. Chinese equities wallowed once more, exacerbated by fears of financial instability in the face of a depreciating Yuan, after the PBOC’s currency fix pushed the USD/CNH above 6.97 for the first time in several years. The AUD/USD fell in sympathy with the Yuan, breaking through support at 0.7040, only to drift higher into the European session. The Pound and Euro came under pressure due to the US Dollar's strength, but stayed within the 1.28 and 1.13 handle, while European stocks crept towards their worst month in three years.
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Dividend Adjustments 29 Oct - 02 Nov
JamesIG posted a blog entry in Market News,
Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 29 Oct 2018. If you have any queries or questions on this please let us know in the comments.
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Post in Nasdaq leads the way for stock indices
Mercury posted a post in a topic,
Where are stock markets heading today and next week? Join the discussion: "Hard to call stock indices at present but still valid to work out scenarios to help light the way, if price action follows..."
Japan and China to repair ties- EMEA Brief 26 Oct
KatherineIG posted a blog entry in Market News,
Japan and China sign a bilateral currency swap to improve financial stability
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The ECB to announce its monetary policy amid growing tensions within the Eurozone - EMEA brief 25 Oct
DanielaIG posted a blog entry in Market News,
The European Central Bank is announcing its monetary policy today, with expectations that Mario Draghi will confirm that the ECB stands by its plan to end its quantitative easing program by the end of the year.
The euro plunges on Wednesday as concerns over the Eurozone growth continue.
The euro plunges on Wednesday as concerns over the Eurozone growth continue.
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Elevated volatility and choppy trade - APAC brief 25 Oct
MaxIG posted a blog entry in Market News,
Elevated volatility and choppy trade: Volatility is still elevated. It's one moment up and one moment down. Price action and sentiment is shifting all in the space of a single session. The extreme vacillations in price and sentiment are wrung by the twisting fortunes of the global economy's two major forces: the Chinese and US economies. Day-to-day, markets are playing out like a game of pong, with one side rising only to strike the ball in the opposite direction to send the other diving lower. Once again, a sharp rally in China's equities just prior to its lunch break yesterday fizzled throughout the day, to the chagrin of nonplussed European and North American equity traders. The remainder of Thursday's session since has seen a sea of red, as the bears one again have-their-way with the market.
Risk-off (again): Several causes have been used to rationalise last night's drop in US equities, ranging from fears regarding poor earnings and soft US housing data last night. Nothing major has thus far leapt out as a catalyst however, seeming more like a continuation of the very choppy trend we've watched play out for weeks. Havens maintained their trend higher amidst the risk-off sentiment, pushing US Treasuries (and bond markets in general) higher. The USD has rallied on this basis, diving into the 1.13 handle against the EUR and the 1.28 handle versus the GBP. While Gold prices have remained steady, as traders maintain their hedge against fiat currency risk.
Risk-off (again): Several causes have been used to rationalise last night's drop in US equities, ranging from fears regarding poor earnings and soft US housing data last night. Nothing major has thus far leapt out as a catalyst however, seeming more like a continuation of the very choppy trend we've watched play out for weeks. Havens maintained their trend higher amidst the risk-off sentiment, pushing US Treasuries (and bond markets in general) higher. The USD has rallied on this basis, diving into the 1.13 handle against the EUR and the 1.28 handle versus the GBP. While Gold prices have remained steady, as traders maintain their hedge against fiat currency risk.
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FTSE topping pattern & implications
TradingMotives posted a topic in Indices and Macro Events,
The US stock market is still in a sell-off state as the S&P 500 recorded its fifth straight decline, with all other major indices down at least 4.8% for the month of October. How is the FTSE 250 fairing in this environment and does this present a trade opportunity?
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Post in Brexit Countdown
Caseynotes posted a post in a topic,
Updated Brexit timetable *now with added hurdles*. GBP remains at the mercy of every decision and announcement as there is a degree of pricing in of every potential scenario meaning that as various scenarios are scratched and others become more likely GBP positions will be adjusted.
Deutsche Bank kicks-off European Banking Season - EMEA Brief 24 Oct
GeorgeIG posted a blog entry in Market News,
Deutsche Bank has kicked off the banking season in Europe today as the bank announced a net profit of €229 million, with analysts expecting a profit of €149 million, as the investment bank branch loses ground. Barclays has followed by beating expectations as net income came in at £1 billion vs. £723 million expected, Jes Staley announced he is "very pleased" with the Q3 results.
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Post in Indices
Caseynotes posted a post in a topic,
What is happening with global indices today? Shares your thoughts and figure out trade ideas with other Community members: "As expected yesterday the indices went looking for resistance and finding it at the short term highs when price fell back to settle near the starting point.
Looking at the charts last night it seemed obvious that the next move would be to retest the lows so was a little annoyed to find this morning that they had already done it with Dax dropping 90 tick in the early hours."
Looking at the charts last night it seemed obvious that the next move would be to retest the lows so was a little annoyed to find this morning that they had already done it with Dax dropping 90 tick in the early hours."
Daylight saving times - Changes to opening hours from 28 October
JamesIG posted a topic in General Trading Strategy Discussion,
UK and European clocks go back one hour when Daylight Saving Time (DST) ends on Sunday 28 October. From this date until Sunday 4 November, the end of DST in the United States, there are a number of changes to our opening hours.
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Stock Markets Retreat over Rising Geopolitical Tensions - EMEA Brief 23 Oct
JoeIG posted a blog entry in Market News,
Asian stock market retreats as China rally fades a day after Chinese stocks posted their biggest one-day advance in over 2 years. The Hang Seng is down 3.3% whilst the CSI 300 is currently down 3.5%.
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Copper - A worrying outlook for the Global Economy?
JoeIG posted a blog entry in Market News,
Recent global sell-offs and the ongoing US-China trade war have caused copper prices to decline to their weakest levels since July 2017. The price of the metal currently sits at around $6300 a tonne after recovering from its slump below $6000 in August this year. The relationship between prices of base metals and future growth has proved to be evident in the past, so much so that this specific commodity is often referred to as ‘Dr Copper’.
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Options trading
Ludwik Chodzko-Zajko IG posted a topic in Feedback and Suggestions,
We've recently pushed out a new options interface to our HTML5 trading platform for all UK spread betting and Pro-CFD users, as well as Australia, Dubai, Singapore and South Africa. Feel free to post any honest feedback – good or bad – and I'll send it in the direction of the options desk.
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