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Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 06th April 2024.

Find below the table that shows the number of days' worth of overnight funding fees you will be charged if you keep a Forex position open on a particular day.

The GBPAUD Elliott Wave Analysis for the Day Chart offers insights into the ongoing corrective movements in the British Pound/Australian Dollar (GBPAUD) pair. This analysis details the current wave structure and provides key information for traders seeking to understand potential trend reversals or continuations.

The three local banks are set to report their Q1 2024 earnings over coming weeks.

Microsoft, Apple, Nvidia, Amazon and Meta could be the best AI stocks to watch next month. These stocks are the largest AI stocks in the US based on market capitalisation.

Read about upcoming market-moving events and plan your trading week.
Week commencing 29 April

Please see the interest rates that are used when IG calculates the overnight funding rate (per annum) on shares and indices.

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 29th April 2024.

Please be advised that our opening hours will be adjusted on 1 May 2024 for International Workers’ Day and 6 May 2024 for the UK Early May Bank Holiday. Where appropriate, the times listed are in GMT.

Microsoft, Apple, Nvidia, Amazon and Meta could be the best AI stocks to watch next month. These stocks are the largest AI stocks in the US based on market capitalisation.

Natural Gas



Mode - Impulsive 



Structure - Impulse Wave 



Position - Wave (iii) of 5



Direction - Wave (iii) of 5 still in play



 



Details:  Price now in wave iii as it attempts to breach 1.65 wave i low. Wave (iii) is still expected to extend lower in an impulse.



 



Natural Gas is currently breaching the previous April low, marking a decisive move as the impulse initiated on 5th March continues its downward trajectory, further extending the overarching impulse wave sequence that commenced back in August 2022. This decline is anticipated to persist as long as the price remains below the critical resistance level of 2.012.



 



Zooming in on the daily chart, we observe the medium-term impulse wave originating from August 2022, which is persisting in its downward trend after completing its 4th wave - delineated as primary wave 4 in blue (circled) - at 3.666 in October 2023. Presently, the 5th wave, identified as primary blue wave 5, is underway, manifesting as an impulse at the intermediate degree in red. It is envisaged that the price will breach the February 2024 low of 1.533 as wave 5 of (3) seeks culmination before an anticipated rebound in wave (4). This confluence of price movements underscores the bearish sentiment prevailing over Natural Gas in the medium term.



 



Analyzing the H4 chart, we initiated the impulse wave count for wave (3) from the level of 2.012, which marks the termination point of wave 4. Notably, price action formed a 1-2-1-2 structure, with confirmation established at 1.65 and invalidation set at 2.012. The confirmation of our anticipated direction materialized as price breached the 1.65 mark, signifying a resumption of bearish momentum. Presently, there appears to be minimal resistance hindering the bears, thereby reinstating their dominance in the market. It is projected that wave iii of (iii) of 5 will manifest around 1.43, indicative of the potential for the wave 5 low to extend to 1.3 or even lower. This comprehensive analysis underscores the prevailing bearish outlook for Natural Gas in the immediate future.



 







 







 




Technical Analyst : Sanmi Adeagbo
 

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Monday’s session saw the FTSE 100 finally reach a new record high, joining its peers which saw fresh peaks earlier in the year.

As Amazon gears up to release its Q1 2024 earnings on April 30, market watchers are eyeing potential growth in AI technology, cost-cutting measures, AWS expansion, and advertising revenues.

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The BoJ is set to hold their monetary meeting across 25 – 26 April 2024. At the previous meeting, the BoJ raised its key short-term interest rate from -0.1% to a range of 0% - 0.1% for the first time in 17 years. The central bank also removed its yield curve control (YCC) policy and scaled back its asset purchases – ending purchases of equity exchange traded funds (ETFs) and J-REITs but will continue to purchase Japanese Government Bonds (JGBs) with “broadly the same amount as before”.

This week is one of those busy weeks that occurs about three times a quarter, as a rush of key economic data and big-name earnings hit markets. Flash PMIs, the German IFO index and durable goods orders lead up to flash quarter 1 (Q1) Gross domestic product (GDP) for the US, the Bank of Japan (BoJ) rate decision and US PCE price data. Meanwhile, earnings come through from the US, Europe and the UK, including UK and eurozone banks, and of course more of the big tech stocks, as Tesla, Alphabet and Microsoft report figures for the most recent quarter.

Please see the interest rates that are used when IG calculates the overnight funding rate (per annum) on shares and indices.

Bitcoin halving, a pivotal event in the cryptocurrency world, occurs roughly every four years, reducing the reward for mining new blocks by 50%. This mechanism is encoded in Bitcoin's blockchain software to regulate the issuance of new bitcoins and ensure the total supply does not exceed 21 million coins.

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Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 22nd April 2024.

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Read about upcoming market-moving events and plan your trading week