MongiIG

Hi @THT, this is great. I like it. Just one question on the technical term for this sideways range is accumulation or distribution, would you be referring to The Wyckoff Method is applied here if you are aware of it ? Distribution and accumulation schematics (Wyckoff events and phases). MongiIG

Hi @Marcraffard, NIO’s share price had risen by close to 7% over the past week, ahead of its upcoming Q2 results this week. Can its Q2 results exceed expectations? MongiIG

Walt Disney Q3 earnings provide an important update on their reopening transition, with rising revenues needed to justify elevated share price. Source: Bloomberg Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 10 August 2021 When will Walt Disney report their latest earnings? Disney report their earnings for the third quarter of the 2021 fiscal year financial results after the close of regular trading on Thursday August 12, 2021. Walt Disney earnings – what to expect Disney has experienced a difficult pandemic period, with the Covid restrictions having severe implications for both their ability to create content and open theme park locations. While the Disney+ streaming service provided a somewhat timely offering as the firm built a fresh revenue stream at a time when physical products were a tough sell, the majority of their earnings come from products that are related to practices that have been impacted by the pandemic. The breakdown of where those earnings lay can be seen below, with the pre-pandemic revenues coming predominantly via their media networks and Parks and Experiences segment. With that in mind, investors will want to keep an eye out for how these two segments are faring in particular. Source: IG Another idea of exactly where their focus lies comes when looking at the geographic location of revenues, with North America somewhat predictably providing the mainstay of their income. Nonetheless, with Parks in Paris, Hong Kong, and Shanghai coupled with a cruise operation, the company has been influenced by experiences elsewhere in the world. Source: IG With the stock already trading some 15% above its pre-pandemic 2020 high, there will be many questions asked over how justified that valuation is in relation to earnings. We can see how this rise in the Disney share price has impacted their ratios, with the price-to-sales figure surging to highlight how we have seen markets preempt the recovery in revenues. Source: Refinitiv What figures should we watch out for? Disney is expected to report revenues of $16.76 billion, which would continue the improvement after a figure of $15.61 billion last quarter. From a historical perspective, that figure would be a significant improvement on the third quarter (Q3) 2020 revenue number of $11.77 billion, but down on the pre-pandemic Q3 2019 reading of $20.24 billion. Elsewhere, earnings per share (EPS) is expected to come in around $0.55, which would be well down on the $0.79 seen in the second quarter (Q2). From a historical perspective, that figure would be well up on the Q3 2020 EPS of $0.08, but down on the Q3 2019 figure $1.35. Disney earnings – valuation and broker ratings Disney remains popular with brokers, with 26 ‘strong buy’ or ‘buy’ recommendations and four ‘holds’. They have no sell recommendations. Disney shares – technical analysis Disney shares have been drifting lower over the course of the past five months, with the stock down 15% from the record high established in March. With higher lows continuing to play out over the course of 2021 thus far, this latest pullback looks like a good buying opportunity ahead of their latest earnings figures. A break back below the $169.24 July low would bring about a more bearish outlook for the stock. To the upside, the bullish story gains prominence with a rise up through the $181.34 swing-high. Source: ProRealTime

FTSE 100, DAX and Dow turn higher after brief pullback FTSE, DAX, and Dow start to regain ground after brief period of weakness seen at the start of the week. Source: Bloomberg Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 10 August 2021 FTSE 100 rallies back up into key resistance The FTSE 100 has managed to reverse higher in the wake of a brief pullback on Monday morning, with the index rising back up into the 7143 resistance level in early trade. That break up into resistance does heighten the chance of a bullish breakout from here, with the key 7151 level also coming into play above last week’s high. With that in mind, the ability to break through this resistance zone will be key in determining whether we can maintain this bullish theme from here. A break below 7088 would be required to bring a more neutral/bearish tone. Source: ProRealTime DAX heads higher as we approach previous highs The DAX has turned higher in early trade today, with yesterday’s pullback proving brief in nature thus far. The 15816 record high provides us with a clear target and hurdle to overcome if we are to maintain this bullish trend. A break below the 15698 level would weaken this bullish outlook. Source: ProRealTime Dow Jones expected to break higher despite recent drift lower The Dow has started the week on the back foot, with the index falling back into trendline support this morning. The brief breakout seen on Friday brought about hope that we were set for another trending period after two weeks of consolidation. That may still be the case, yet we are seeing the index pullback first. Thus, whether we head higher from this trendline or move into a deeper retracement, there is a good chance we will see the bulls come back into play before long. A break below 34761 would be required to negate this bullish outlook. Source: ProRealTime

Hi @Richard021977, the markets will be closed on weekends. Please kindly visit this link https://www.ig.com/uk/trading-strategies/us-stock-market-hours--when-do-the-nyse--nasdaq--dow-jones-and-s-200812 it shows the standard IG trading hours on All Sessions opening and closing times for US and UK markets. All the best - MongiIG

Researching stocks involves incorporating multiple sources of information, deduction and strategies, all whilst markets are constantly transforming. Stock traders and investors need to know what information is useful to them as well as the most efficient and accurate way to go about stock research. This article will explore key aspects of researching stocks: How to get started A step by step guide to stock research Stock research toolbox How to do research on stocks: Key takeaways Just getting started in the stock market? Read our guide to stock trading basics HOW TO GET STARTED WITH YOUR STOCK RESEARCH Prudent investors do not often make investments without prior research or substantiation as to why the stock is attractive for purchase. Stock research in a general sense begins with an understanding of three key details about a company: Present financial health Current management Future vision and roadmap Crucially, one thing many investors fail to do is align a company’s values with their own, which is important for finding the best investment that meets their specific goals. Therefore, being mindful of your investment strategy, and why you are looking to invest in stocks can help to guide your decision-making processes. A STEP BY STEP GUIDE TO RESEARCHING STOCKS As well as understanding the current and future position of a company, effective stock research needs to consider the following factors to help investors reach a decision in the effort of meeting their goals and desired strategy: Time horizon for investment Risk levels Type of stock industry/sector Understanding the company product/service Financial reporting Competitor and industry analysis Following industry experts Using research platforms and terminals Stock order types Broker fees 1. Investment time horizon Time horizon is important as it allows investors to identify which types of stocks may align with their goals. For example, many young investors with long time horizons are willing to take on more risk when it comes to an investment portfolio. These types of individuals will often prefer more aggressive portfolios which may include growth stocks that carry more expensive valuations. Because of the longer time horizon, these investors can usually tolerate larger swings in the market. The opposite would be true for shorter time horizons (under five years) as these investors have less tolerance for large drawdowns in the portfolio, as larger adverse market movements can create a long-lasting effect for someone nearing retirement that may need to soon begin drawing income from the portfolio. 2. Risk levels Risk ties in with time horizon as investors use these two components together to help identify which types of stocks to invest in. Higher risk-seeking individuals will often prefer growth stocks such an Amazon or Tesla; whilst risk-averse investors usually head towards value stocks which often carry lower P/E ratios. These value stocks might be considered as undervalued and potentially attractive for long-term investing. Regardless of investment style, it’s important to practice good risk management so that the investor can aim to benefit from upside movement while attempting to minimize downside risk. 3. Type of stock industry/sector Many investors are familiar with a certain stock sector which can potentially make researching stocks in that sector easier. Understanding an industry allows for more in-depth research in terms of variable inputs and nuances that cannot often be retrieved from financial statements. The stock market is often divided into eleven sectors, uncover stock sectors for a more structured method to stock research 4. Understand the company product/service Familiarising oneself with the company’s product/service will assist in the later step of competitor analysis. Knowing what makes the company’s product/service unique, which includes the cost factor, is crucial for future forecasts. Many companies have a diverse product/service offering which then makes this step more central to stock research. For example, with multiple products/services, investors need to understand how each offering affects the company with regards to cost, revenue and the future potential of each. 5. Financial reporting Publicly traded companies publish financial reports which give a quantitative overview of the company. These include Earnings Announcements, which provide vast amounts of information about a company’s financial health and performance. From the company’s publicly filed reports, investors can identify potential red flags/risks within the company, management capability, debt management and income sources. Explore the foundations of earnings season and how it fits into stock research Current financials are not the only important documents to review. Past data can offer investors deeper knowledge and appreciation of where a company comes from as well as how it reacted under previous market conditions. This being said, fundamental analysis involves complex techniques and a thorough understanding of financial statements, mathematical formulas and a solid overall grasp of financial markets. Uncover some basic tools to help you value a stock! 6. Competitor and industry analysis There are regular instances whereby companies have direct competitors with the same/similar business models. Therefore, it is a good idea for investors to compare and analyse stocks between these competitors to find discrepancies which could further uncover potential investment opportunities. The same applies to the industry as a whole. Often there are times where a company within an industry outperforms the industry and its competitors, or vice versa. Delving into why these seemingly perplexing patterns may occur can broaden understanding of how a stock or industry behaves under certain conditions. Competitor and industry analysis are seen as obvious comparisons to make when researching stocks but, it may be prudent to analyse other markets as well. For example, Royal Dutch Shell Plc may do direct competitor analysis against a company such as BP Plc, but another comparison may be to overlay these companies with that of the underlying oil price. This major commodity (oil) is heavily correlated to the business model, therefore looking outside the scope of the equity markets may uncover some valuable insight. 7. Follow industry experts A great way to further stock research is by following industry experts, such as highly regarded equity analysts. These experts often publish in-depth stock research which can be a good way to draw comparisons between individual and expert analysis. This is also a good way for investors to broaden equity analysis techniques by studying the analyst’s approach and what they look for in making investment decisions. 8. Research platforms and terminals The use of research platforms and terminals such as Bloomberg can give investors/analysts a plethora of additional analytical tools and techniques. These can help investors with efficiency and access to many other financial markets and stocks for comparative purposes. Quantitative tools are also available on such platforms for more complex types of analysis. These platforms can be costly, so before investing in one, the investor should make sure to consider the expense factor relative to their expected benefit. 9. Stock order types After the research has been completed, investors will need to place the order to buy the stock. Knowing how order types work in the stock market can help investors to better focus the execution of their strategies. Liquidity is another concept that can result in varying spreads and pricing. Stock market liquidity refers to the ease at which the company shares can be bought and solid without experiencing large price fluctuations. Large companies with high liquidity such as Apple Inc will often have tighter spreads with a larger volume of shares available to buy/sell at a given price. 10. Broker fees An important but often overlooked portion of the stock investment process is that of broker fees or commissions. Brokers have differing fees so investors should become familiar with fees in order to avoid any unwanted surprises. These should be available on the broker website and should be transparent. HOW TO DO RESEARCH ON STOCKS: KEY TAKEAWAYS Investors can purchase stocks after doing thorough research; and taking into account as many variables as possible can help the investor to arrive at a more adequate investment decision. This can take many hours of work but sacrificing the time will enable investors to make more informed decisions. Keep in mind the steps outlined above to help streamline the stock research process and employ suitable portfolio management practices. LEARN MORE ABOUT THE STOCK MARKET AND GETTING STARTED Get started with stock trading with our article on ‘Stock Market Basics’ Gain an understanding on stock market liquidity and how to use it to your advantage Do you know which type of stock is the right investment for you? Stock types help investors decide on specific stocks to trade or assist with valuation methods either fundamentally or technically Written by Warren Venketas, Markets Writer, 10 August 2021. DailyFX DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. DISCLOSURES

S&P 500, GOLD, DOLLAR AND EURUSD TALKING POINTS Summer trading conditions are still steering the markets broadly with the likes of the S&P 500 carving out a very restrained tempo – though running an extended advance Thin markets can cap activity, but it can also exaggerate volatility significantly as with gold’s supposed Monday flash crash The Dollar is on the cusp of a technical break out (breakdown for EURUSD) and rate speculation has accelerated, but can it overcome the quiet? MARKET CONDITIONS RULE EVERYTHING AROUND ME, OR MCREAM The new trading week has opened to a range of assets experiencing very different conditions. There is the US Dollar whose charge through the end of this past week was on the verge of a major technical break that instead slowed its pace despite the additional fundamental support in exactly the right theme. Then we have gold which experienced an extreme intraday volatility that has been called a ‘flash crash’ by some and ‘fat finger’ by others. And the vast majority of the most liquid market benchmarks like the S&P 500 are trading at a tempo that is both boring traders and making investors dependent on capital gains anxious. All of this I believe is symptomatic of the same underlying issue: thinned market conditions. While technical and fundamentals matter, their effectiveness depends on general conditions of the financial system to convert or absorb meaningful developments. Chart of the S&P 500 SPY ETF with Volume, 100-Day SMA and Spot-SMA Disparity (Daily) Chart Created on Tradingview Platform As a reminder of the general market conditions we are facing, I will once again reference the average performance of the S&P 500 and its market elements. In the month of August, this baseline for ‘risk appetite’ has averaged out one of its lowest volume months of the calendar year – the lowest if you adjust for active trading days. Yet, on the flip side of the same coin, that shallow market backdrop tends to amplify short bouts of volatility. I like to use the analogy of a shockwave moving through a large body of water. When an earthquake occurs in the middle of an ocean, the impact is barely noticeable from the surface. However, as the wave moves towards the shallower areas closing in on land, it turns into a tsunami – a catastrophic but short-lived event. Chart of S&P 500 Seasonal Performance, Volume and VIX Chart Created by John Kicklighter with Data from Bloomberg We saw just how significant a drain in liquidity could distort a market this past session through gold. In the opening hours of trade during the Monday Asian session when market depth is perhaps its thinnest point of the week for a 24/5 market like this commodity, there was a sudden and dramatic tumble. In the span of less than 15 minutes, one of the most heavily traded assets in the world dropped more than 4 percent. There were some attributing the move to a technical break of 1760 which coincides with a meaningful trendline support / range floor combo while others suggested it was a delayed reaction to the charge in rate expectations in the US. Those factors could have helped get the ball rolling, but the intensity of the move almost certainly had to do with a large sell order not finding a market to absorb the offer. Yet, the thin liquidity cuts both ways such that a trend is an improbable scenario which the ‘buy the dip’ crowd would recognize readily enough. Until this spell is broken, the opportunistic range traders will continue to swoop in on these types of developments. Chart of Spot Gold with Daily ‘Tails’ (Daily) Chart Created on Tradingview Platform WHERE THE FUNDAMENTALS REALLY GAINED TRACTION: US MONETARY POLICY Last week, when I was off the desk, the Dollar started to make some serious progress. The real traction came on Friday specifically following the Bureau of Labor Statistics reporting of the July employment numbers. Nonfarm payrolls didn’t exactly blow expectations out of the water (they were a modest 75,000 or so above consensus), but the nearly 1 million additional jobs to the world’s largest economy was the biggest jump in overall employment since August of last year. In addition to the drop in the jobless rate and robust 0.4 percent increase in average hourly wages, there real heft in this run was the swell in monetary policy expectations. We furthered that anticipation this past session through Atlanta Fed President Bostic’s remarks whereby he suggested he supported a hike by the end of 2022 should the economy remain on its current trend. Further, he currently supports a taper starting in the October to December period but could be convinced of a September start should the data bare it out. While Bostic no doubt speaks for himself, it is clear that each FOMC member is also representing the central bank at large with guidance and messaging their most actively used tool. I find his remarks critical, but will the market? Chart of DXY Dollar Index Overlaid with Fed Implied Hikes Dec 2022 (Daily) Chart Created on Tradingview Platform Despite the fact that Bostic’s remarks further the fundamental implications of last week’s top data, the market showed limited enthusiasm for follow through to the point of a critical breakout for the Greenback. For the ICE’s Dollar Index, that would be a clearance through 93 while EURUSD would roughly translate the line in the sand around 1.1700. We are within easy reach of these critical levels and the fundamental nudging is there, but once again, such an attempt would contravene market conditions. I like both the technical barriers and believe the fundamental pressure to be legitimate, but my priority remains with market conditions. In this, the retail trader’s preference for range conditions, which is on full display in the IG Client Sentiment reading for EURUSD, may find the masses in the more probable path. Chart of EURUSD Overlaid with Retail FX Positioning from IG Clients (Daily) Chart Created on DailyFX.com THE FUNDAMENTAL POTENTIAL AHEAD While I do hold market conditions in higher regard than other analytical elements, there is inevitable change to aspect of the financial system just as any other. It is possible that the summer-bound masses can be brought back to the market by an overwhelming urge. I believe that the power of fear in risk aversion is the most universal influence, but the water mark on that front is very high. Short of that engulfing stimulus, we may find a little more sway in the collective sentiment data due over the next 24 hours from Australian and US business confidence to Japanese and Eurozone economic readings. That said, given the preexisting volatility of the Dollar, the scheduled speech from perhaps the Fed’s most dovish member, Chicago Fed President Evans, will draw my distinct interest for the currency, yields and many more financial outlets. Key Global Macro Economic Event Risk Calendar Calendar Created by John Kicklighter Written by John Kicklighter, Chief Strategist, 10 August 2021. DailyFX DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. DISCLOSURES

For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage: Indices: Markets drift as traders await evidence that a rise in covid cases will lead to further restrictions Equities: COIN one of the big movers on increasing crypto prices – earnings later today. Other earnings to watch BWY IHG & ABDN FX: USD holds gains as FOMC voting member Rosengren says Fed should announce taper plans in September. AUDUSD close to 9mth lows after drop in NAB biz conf Commods: Precious metals fight back, but move is just a retracement at the moment. Oil little moved https://community.ig.com/igtv/

With Q2 earnings season continuing apace, Fresnillo, Uber, and Virgin Galactic provide us with potential trading opportunities. Source: Bloomberg Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 06 August 2021 This article looks at some of the big movers off the back of recent earnings announcements to try and find stocks that seem to provide a good trading opportunity. Typically, earnings announcements and trading statements will drive a shift or enhancement of market sentiment. While many see earnings as a significant risk when holding a stock, placing trades in the wake of such events allows for greater confidence that all market knowledge has been factored into current prices. Fresnillo A 59% jump in interim profits did little to lift the Fresnillo share price, with the stock suffering another bout of losses towards the end of the week. The world’s largest silver producer saw increased output for both gold and silver, with the company on track to meet their targets by year-end. Nonetheless, we have seen the stock hit hard over the course of the past year, with the share down 42% in around nine months. Meanwhile, silver prices are largely flat compared with that same November 2020 date. With price having pushed up through trendline and £8.28 resistance in the wake of those earnings, the subsequent pullback looks like a potential buying opportunity. That being said, with the dollar dragging precious metals lower, we are clearly seeing that negative pressure come back into play. A break back below £7.42 would bring about a fresh sell signal. Until then, there is a good chance we could see the buyers come back in to reflect how the share price has got a little carried away compared with earnings and underlying precious metal pricing. Source: ProRealTime Virgin Galactic The recent successful test flight did little to help Virgin Galactic, with the share price better resembling the glide back down to earth than the initial blast into space. However, with the company reopening sales, upping prices, and posting a surprise positive revenue figure, it seems dreams are becoming reality. The rise through $33.89 points towards a potential surge from here and another possible period of upside for the stock. With that in mind, a bullish outlook is back in play, with a break below $29.48 required to negate that bullish view. Source: ProRealTime Uber Uber shares popped higher off the back of a second quarter (Q2) earnings report which beat on both the top and bottom line. They also predicted reaching profitability by the end of the year. The subsequent rally saw the stock drive higher from the historical resistance level of $38.49. This raises the likeliness of a bullish breakout after a six-month period which saw 40% wiped off the company’s share price. That figure is now 30% given recent gains. A rally up through the $48.16 swing-high and $48.95 Fibonacci resistance would bring a more reliable bullish signal into play. However, with the stock seemingly turning a corner towards profitability, there is a good chance this selloff has run its course. Source: ProRealTime

What to trade the week starting 9th August: US inflation data; Walt Disney Q3; eBay Q2; Deliveroo H1 IG’s senior market analyst, Josh Mahony, looks at a potential trade on Disney ahead of its earnings next week. Plus, US inflation data draws attention to the US dollar index. https://www.ig.com/uk/market-insight-articles/what-to-trade-the-week-starting-9th-august--us-inflation-data--w-210806 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.

Risk event of the week starting Monday 9 August: gold around US inflation With the reflation trade still in view, Daily FX's Daniele Sabin Hathorn looks at an opportunity to increase exposure to gold. The big question is where it will find support T $1,800/oz. IGTV’s Jeremy Naylor looks at the chart. https://www.ig.com/uk/market-insight-articles/risk-event-of-the-week-starting-monday-9-august--gold-around-us--210806 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.

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Dollar weakness likely to drive EUR/USD and GBP/USD strength, while USD/CAD heads lower EUR/USD, and GBP/USD looking likely to gain ground after recent weakness, while USD/CAD heads lower once again. Source: Bloomberg Forex United States dollar Market trend Canadian dollar EUR/USD GBP/USD Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 06 August 2021 EUR/USD declines towards Fibonacci support EUR/USD has been on the back foot over the course of the week, with the break back below $1.185 on Wednesday giving way to further downside for the pair. However, with the recent rally through $1.1881 bringing a higher high into play, there is a good chance that this period of downside represents a retracement before we head higher once again. With that in mind, bullish positions are favoured unless the price drops back below $1.1754 support. Source:ProRealTime GBP/USD continued to build base after 76.4% pullback GBP/USD has been taking its time building bullish momentum off the back of another retracement, with the pair respecting the 76.4% Fibonacci level over the course of the week. The recent trend of higher lows does point towards a likely break higher before long. As such, a bullish view holds unless the price breaks below $1.3843 support. Source: ProRealTime USD/CAD rolling over from trendline and Fibonacci resistance USD/CAD has seen a relatively volatile week, with the index reversing lower after a period of strength towards the beginning of the week. That rise took us back into the confluence of trendline and Fibonacci resistance, with the recent bearish momentum coming back into play. The key hurdle to overcome for bears comes in the form of the C$1.2425 low, with a break below that level required to bring a wider bearish picture into play. To the upside, a break through C$1.2605 would bring about a fresh bullish signal for the pair. Source: ProRealTime

Charting the Markets: 6 August FTSE, DAX, and Dow likely to break higher, with recent consolidation expected to resolve upward. EUR/USD and GBP/USD likely to gain ground after recent weakness, while USD/CAD is lower. Gold and Brent, meanwhile, on the back foot. https://www.ig.com/uk/market-insight-articles/charting-the-markets--6-august-210806 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.

Gold and Brent crude expected to head higher despite recent declines Gold and Brent crude have been on the back foot, yet the bulls are expected to kick in once again. Source: Bloomberg Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 06 August 2021 Gold declines into SMA and Fibonacci support Gold has slipped back into the confluence of 76.4% Fibonacci and 200-SMA (simple moving average) support in the latter part of this week. With the recent rally failing to overcome the $1834 swing-high, there is a chance we are simply looking at a range or potential double top formation coming into play. However, this confluence of support is perhaps the final notable area of support in play if we are to establish another higher low. A bullish view holds unless price drops below $1790 support. Source: ProRealTime Brent crude selloff greeted by new buyers Brent crude has started to regain ground after a deep retracement throughout the first half of the week. The wider uptrend does highlight the strong likeliness that we will ultimately resolve with another move higher. With that in mind, whether or not we see another short-term move lower, a bullish view holds unless we break below $67.06. Source: ProRealTime See opportunity on a commodity?

FTSE 100, DAX and Dow expected to resolve higher after consolidation phase FTSE, DAX, and Dow likely to break higher before long, with recent consolidation expected to resolve upward. Source: Bloomberg Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 06 August 2021 FTSE 100 drifts back towards trendline support The FTSE 100 looks to be moving back into trendline support this morning, with gains seen over the course of Thursday fading at the open. Nonetheless, the intraday trend remains in play unless price breaks below 7050, with the index likely to push higher from either trendline or Fibonacci support (7072-7086). Source: ProRealTime DAX breaks resistance as we head towards record highs The DAX has managed to exit its recent consolidation phase, with the push through 15707 pointing towards a likely rise into record highs around 15816. The ability to break and hold above that level will be key in determining whether we continue immediately higher or post another retracement for the pair. However, a bullish view holds unless price falls below the latest intraday swing-low of 15661. Source: ProRealTime Dow Jones rallies back towards range resistance The Dow managed to regain lost ground yesterday, with price rising back from the key 34761 support level. This consolidation phase remains prominent unless broken, meaning that we are soon at risk of another decline back towards the lower boundary. Ultimately, the directional bias will be dictated by the ability to break through either 34761 (bearish) or 35175 (bullish). Source: ProRealTime

NFP and Forex Trading: MAIN TALKING POINTS Non-Farm Payrolls (NFP) releases create volatility in the forex market. NFP measures net changes in employment jobs. Forex traders use an economic calendar to prepare for NFP releases. What is the NFP? The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It represents the number of jobs added, excluding farm employees, government employees, private household employees and employees of nonprofit organizations. NFP releases generally cause large movements in the forex market. The NFP data is normally released on the first Friday of every month at 8:30 AM ET. This article will explain the role NFPs play in economics and how to apply NFP release data to a forex trading strategy. HOW DOES THE NFP AFFECT FOREX? NFP data is important because it is released monthly, making it a very good indicator of the current state of the economy. The data is released by the Bureau of Labor Statistics and the next release can be found on an economic calendar. Employment is a very important indicator to the Federal Reserve Bank. When unemployment is high, policy makers tend to have an expansionary monetary policy (stimulatory, with low interest rates). The goal of an expansionary monetary policy is to increase economic output and increase employment. So, if the unemployment rate is higher than usual, the economy is thought to be running below its potential and policy makers will try to stimulate it. A stimulatory monetary policy entails lower interest rates and reduces demand for the Dollar (money flows out of a low yielding currency). To learn exactly how this works, see our article on how interest rates effect forex. The chart below shows how volatile forex can be after an NFP release. The expected NFP results for March 8, 2019 were 180k (job additions), the actual result disappointed with only 20k jobs being added. As a result, the Dollar Index (DXY) depreciated in value and volatility increased. Forex traders must be wary of data releases like the NFP. Traders could get stopped-out due to the sudden increase in volatility. When volatility increases, spreads do too, and increased spreads can lead to margin calls. WHICH CURRENCY PAIRS ARE MOST AFFECTED BY NFP The NFP data is an indicator of American employment, so your currency pairs that include the US Dollar (EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF and others) are most affected by the data release. Other currency pairs also display an increase in volatility when the NFP releases, and traders must be aware of this as well, because they may get stopped out. The chart below shows the CAD/JPY during the NFP data release. As you can see, the increase in volatility could stop a trader out of their position even though they are not trading a currency pair linked to the US Dollar. NON-FARM PAYROLL RELEASE DATES The Bureau of Labor statistics normally releases the NFP data on the first Friday of each month at 8:30 AM ET. The release dates can be found on the Bureau of Labor Statistic’s website. Due to the volatile nature of the NFP release, we recommend using a pull-back strategy rather than a breakout strategy. Using a pullback strategy, traders should wait for the currency pair to retrace before entering a trade. Using the same example as above (NFP results 20k vs 180k expected) we expect the US Dollar to depreciate. In the example below, we use the EUR/USD. Because the NFP data came out worse than expected, we forecast the EUR/USD to appreciate. TRADING THE NFP DATA RELEASES: TOP TIPS & FURTHER READING Here are a few tips to remember when using NFP data releases to inform your forex trading: NFP data is released on the first Friday of every month. The NFP data release is accompanied with increased volatility and widening spreads. Currency pairs not related to the US Dollar could also see increased volatility and widening spreads. Trading the NFP data release can be dangerous due to the increase in volatility and possible widening of spreads. To combat this, and to avoid getting stopped-out, we recommend using the appropriate leverage, or no leverage at all. Other important data releases to watch: While the NFP generally moves the market, data like CPI (inflation), Fed funds rates, and GDP growth are important data releases too. If you want to know more about trading the news and data releases, see our trading the news beginner guide. We also suggest reading our traits of successful traders guide to avoid the number one mistake traders make when trading forex. Written by David Bradfield, Markets Writer, 5th August 2021. DailyFX

US DOLLAR AWAITS NONFARM PAYROLLS DATA, FED TAPER TIMELINE US Dollar front and center with volatility set to accelerate around NFP data due Friday The DXY Index has been coiling between its 20-day and 50-day simple moving averages USD price action to strengthen if nonfarm payrolls top forecast and fuel Fed taper risk Check out the DailyFX Real Time News page for breaking market news and analysis The US Dollar was mixed across the board of major currency pairs on Thursday. EUR/USD price action and the DXY Index finished the session flat with US Dollar strength against the Yen offset by weakness versus the Sterling and Loonie. Lack of direction is likely owed to considerable uncertainty that lies ahead for the US Dollar given event risk posed by the upcoming release of monthly jobs data and its potential impact on the Fed’s taper timeline. Nonfarm payrolls data is scheduled to cross market wires Friday, 06 August at 12:30 GMT and will be published on the DailyFX Economic Calendar. The latest consensus forecast for July NFPs is 858K job additions on the headline figure. With a standard deviation of 156k jobs, a “good” beat and “bad” miss would likely need to see respective prints of 1,014K and 702K. Traders will likely dig a little deeper into the NFP report to scrutinize the unemployment rate and average hourly earnings as well. The unemployment rate is expected to drop from 5.9% to 5.7% and average hourly earnings are expected to grow 3.9% year-over-year. DXY – US DOLLAR INDEX PRICE CHART: DAILY TIME FRAME (23 FEB TO 05 AUG 2021) Chart by @RichDvorakFX created using TradingView A better-than-expected NFP report stands spark an influx of US Dollar buying pressure as this would provide more evidence that the economy is making “substantial further progress” – the elusive goalpost for Fed tapering. Nonfarm payrolls coming in north of 1-million, for example, could motivate Fed officials to expedite their taper talks and announce a potential timeline at the Jackson Hole Symposium later this month. This would likely correspond with a sharp move higher in Treasury yields and a considerably stronger US Dollar. On the other hand, US Dollar bulls might be disappointed if NFPs are reported below forecast or even with relatively in-line NFP data. The latter scenario could afford Fed officials with more time to discuss the scope and timing of tapering asset purchases, which in turn, stands to weigh negatively on the US Dollar. From a technical perspective, I will be watching nearside resistance facing the DXY Index around the 92.40-price level. Eclipsing this zone also underpinning the 20-day simple moving average could clear the runway for a rip into the 93.00-handle. Technical support appears at the July swing low and 50-day simple moving average, which aligns with the bottom Bollinger Band and 38.2% Fibonacci retracement level as well. USD PRICE OUTLOOK – US DOLLAR IMPLIED VOLATILITY TRADING RANGES (OVERNIGHT) Last but not least, overnight US Dollar implied volatility readings have ticked higher in reflection of event risk surrounding the release of NFPs. USD/CAD overnight implied volatility, for example, climbed to 7.8% with the Canadian Dollar also eyeing employment data out of Canada. USD/CAD overnight implied volatility of 7.8% is above its 20-day average reading of 7.4% and ranks in the top 83rd percentile of measurements taken over the last 12-months. Keep Reading – Canadian Dollar Outlook: USD/CAD Hinges on Oil & Yields Written by Rich Dvorak, Analyst for DailyFX.com. 6th August 2021.

NIO’s share price has risen by close to 7% over the past week, ahead of its upcoming Q2 results next week. Can its Q2 results exceed expectations? Source: Bloomberg Shares NIO (car company) Price Technical analysis Self-driving car Yeap Jun Rong | Market Strategist, Singapore | Publication date: Friday 06 August 2021. IG When does NIO report earnings? NIO Limited is set to release its Q2 financial results on 11 August, after market closes. NIO earnings – What to expect Current expectations are for NIO’s upcoming Q2 revenue to come in at RMB 8.3 billion, a 123% increase year-on-year and a 4% increase quarter-on-quarter. Net loss per ADS is also expected to shrink to RMB 0.50 from RMB 3.14 in the previous quarter. NIO’s vehicle deliveries have been increasing at 96.3% CAGR over the past two years with tailwind from China’s ongoing shift towards clean mobility. With the launch of its new model EC6 in September 2020, demand for its previous models (ES6 and ES8) remain resilient and continue to grow, signalling some broad-based strength in its line of products. Source: NIO In its NIO day event early this year, the company has revealed its first autonomous driving model, NIO ET7. While any positive impact may only be reflected in Q1 2022, it remains a growth catalyst to underpin longer-term growth and to cope with competition in the EV space. That said, any delay in the timeline for launch may be a risk for share price near-term, considering that tight supply constraints may potentially result in production bottleneck. The risk of a global chip shortage may still be present, with a decline in deliveries in July from previous month. While its overall vehicle deliveries in the second quarter still mark a slight 9% increase from the previous quarter, it is relatively lower compared to its growth over the past one year. Recent car deliveries for July also marks the first time in which its competitors, XPeng Inc and Li Auto, overtook its deliveries number. With that in mind, markets will be looking out for its guidance ahead and expectations are for some slight turnaround in the supply constraints situation into 2H 2021. The absence of an optimistic outlook for the shortage situation may be a risk for share price, especially in the highly competitive EV space and its competitors are breathing down its neck. The August’s delivery numbers will be closely watched to see if NIO can reclaim its leadership position among the trio. Source: NIO, Xpeng, Li Auto Other developments on watch include its overseas expansion plans into Norway, with its first overseas ‘NIO House’ outside China to officially open in the third quarter. Its recent filing for secondary listing in Hong Kong has also been delayed and the management may have to address these questions next week. Currently, the stock has 23 ‘buy’ recommendations, five ‘holds’ and one ‘sells’. The Bloomberg 12-month consensus target price of US$64.73 suggests a potential 43.6% upside from the price at the time of writing. NIO shares – technical analysis From its technicals, a retracement from its four-month peak in July marks a near-term downtrend with a series of lower price highs and lower lows. Recent price action is seeking to overcome the near-term weakness, with the US$47.50 level potentially serving as resistance to overcome. Near-term support may be at US$38.50, where prices were supported on previous three occasions. Source: IG Charts

For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage: Team GBR slipped two places to 6th in Tokyo Indices: FTSE250 & NDAQ new record highs. Europe expected to open up DAX closing in on a new record FX: Watching USD claim more ground ahead of NFP data. EURGBP 4mth lows nearing 84.72 support. Equities: BYND down 5.6% at 2mth low after Q2. SPCE rose 1% after its Q2 but on news of a price rise for tickets. Awaiting earnings from LSE HIK ALV. AMZN BLK & WFC delaying return to office because of a pick-up in Covid variants Commods: Oil up on rising middle east tensions. Gold tests $1800 support level again https://community.ig.com/igtv/

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Friday’s US jobs report expectations come into question after a disappointing ADP payrolls release. Source: Bloomberg Shares Unemployment Payroll Employment United States Federal Reserve Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 05 August 2021. IG The June US jobs report is due to be released at 1.30pm, on Friday 6 August (UK time). Coming at a time when central banks have been shifting towards a more hawkish stance, this fresh bout of unemployment data provides a key batch of data for the Federal Reserve (Fed) to mull over. Traders will certainly view Friday’s jobs report within the context of the potential implications on the Fed’s asset purchase tapering prospects. Last month saw a an impressive 850,000 payrolls figure, coming in well above market expectations. That helps to build confidence over a potential impending recovery in the US, with that figure representing the second consecutive improvement. We are expecting to see that pathway continue once again for the month of July, with predictions of a 870,000 payrolls figure. The chart below highlights how the June jobs improvements were helped along by strong growth in government employment, which is likely to grow further if US President Joe Biden manages to push his latest spending plan through congress. Source: Refinitiv Datastream On the unemployment front, we are expecting to see further improvements. Last month did see the rate tick up to 5.9%, but forecasts point towards the wider downtrend coming back into play with a reading around 5.7%. One concern for the Fed to consider will be the elevated participation rate, with much needed improvements in that reading providing upward pressure on the unemployment rate. As such, it will also make sense to keep an eye out on the U-6 measure of unemployment, which includes individuals often overlooked by the headline U-3 figure. Source: U.S. Bureau of Labor Statistics Companies have been finding it difficult to hire over the course of this recovery, with businesses struggling to meet the surge in demand in recent months. That hiring squeeze could result in a subsequent rise in wages, driving cost-push inflation. With that in mind, keep an eye out for the average earnings figure, with markets expecting to see the yearly figure of 3.6% remain in place once again. Any significant rise in that figure could raise questions over a potential uptick in inflation over months to come. What do other employment readings tell us? Expectations of an improved non-farm payrolls figure highlights hopes that this recovery will continue to gather pace despite the spread of the Delta variant. It is therefore useful to look elsewhere to see if secondary employment surveys point to such a move. Automatic data processing (ADP) payrolls: the latest July ADP payrolls figure made for uncomfortable reading, with the disappointing reading of 330k representing the lowest level since February. With the prior figure of 692k also revised lower to 680k, many will be worried that we could similarly see Friday’s headline payrolls figure disappoint. While many will point our that the correlation between the ADP and headline payrolls figures can be questionable at times, the chart below highlights that this weak ADP figure could point towards a somewhat underwhelming headline release. Source: Tradingeconomics.com Jobless claims: the initial jobless claims figure does appear to signal something similar to that trend forecast in the payrolls release. We are seeing slight improvements, yet things have largely moved sideways over the course of July. Source: U.S. Employment and Training Administration Institute for supply management (ISM) manufacturing and non-manufacturing purchasing managers index (PMI): we saw good news from the July ISM manufacturing, where the employment element pushed back into growth territory. The jump from 49.9 to 52.9 signalled a shift from contraction territory into expansion for the sector. Meanwhile, non-manufacturing provided another move into expansion, with the employment gauge rising from 49.3 to 53.9. Source: Refinitiv Datastream Dollar index technical analysis The dollar index has been hit hard of late, with the price falling back down through trendline and 92.06 support to end the uptrend seen throughout much of June and July. While the price has been consolidating in the lead up to Friday’s jobs report, the lack of any significant uplift does highlight a growing possibility that price will soon break lower once again. Of course we could see volatility in either direction. However, while an improvement to the jobs picture would likely drive the dollar, we would need to overcome 92.77 if things are to look more optimistic for the dollar. Source: ProRealTime S&P 500 technical analysis The S&P 500 remains within consolidation mode as we head towards the jobs report, with the price turning lower from 4424 once again. The breakout from this range will be important in gauging the direction of travel from here on in. However, with a long-term uptrend in place, the bullish side of the story is always favoured. Thus while a break below 4372 would signal a potential short-term period of weakness, it would simply look like a retracement of the wider rally from 4232 low. Source: ProRealTime