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With the ECB deciding on rates on Thursday 22 July Nick Cawley, from Daily FX, looks at a short trade for EUR/GBP. ecb Risk Event for the week starting 19 July: ECB - short EUR/GBP video link Jeremy Naylor | Writer, London | Publication date: Friday 16 July 2021. IG

Gold price and oil price both edge lower Gold has stalled in its move upwards while oil is continuing to head lower for the time being. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 16 July 2021. IG Gold Despite signs of caution earlier in the week the gold price has recovered and moved to a new one month high. It has even topped the 200-day simple moving average (SMA) at $1826. While some weakness has been seen this morning there are few signs of a reversal as yet, which would develop with a drop below $1810. Further gains target the 50-day SMA at $1837, and then on to $1863. Source: ProRealTime WTI The price continues to drop back, having come under pressure, but the uptrend is still firmly intact. A further decline towards the 50-day SMA is possible, but would still create a higher low. Meanwhile, short-term trendline resistance from the peak would suggest resistance around $73.80 in the event of any recovery in coming sessions. Source: ProRealTime

FTSE 100 and DAX recover as S&P 500 edges back from record peak European markets fell hard yesterday but have edged up in early trading. Meanwhile, the S&P 500 continues to drift away from a recent record. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 16 July 2021. IG FTSE 100 Two days of sharp losses have carried the price back below the 50-day simple moving average (SMA) for the first time in a week. Gains have stalled at 7170 and the FTSE 100 finds itself near the area of support at 6990. Repeated dips into this area have found buyers, so bulls will be hoping that the same trick can be repeated again. A move below 6940 would negate this outlook and suggest a deeper retracement. Source: ProRealTime DAX A break higher continues to elude the index, which has fallen back from the record high it briefly touched this week. One day of losses does not mean a big correction is upon us, however; for that we would need a drop below 15,250. At present, any move towards that level would merely test the lower bound of the recent trading range. Source: ProRealTime S&P 500 The price continues to edge back from Tuesday’s record high, but losses are limited. A bigger drop targets the 50-day SMA at 4242, with some potential support at 4300 first. Source: ProRealTime See opportunity on an index?

TOKYO (Reuters) -The Bank of Japan cut this fiscal year's growth forecast on Friday but maintained its view the economy was headed for a moderate recovery, a sign monetary policy will be in a holding pattern for some time. The BOJ also released an outline of its new scheme aimed at boosting funding for activities combating climate change, which will offer banks long-term loans at zero interest. The climate scheme will be launched this year and last until fiscal 2030. The BOJ will offer funds to banks that extend green and sustainability-linked loans, as well as invest in green bonds and sustainability-linked bonds. Transition finance loans will also be applicable for the scheme. The BOJ said it will not pay any interest incentives to banks that tap the scheme. In fresh quarterly projections released on Friday, the BOJ said it expects the economy to expand 3.8% in the current fiscal year ending in March 2022, down from 4.0% projected in April. But it revised up its growth forecast for next fiscal year to 2.7% from 2.4% on expectations that consumption will pick up as vaccinations accelerate. "Japan's economy is likely to improve ... as the pandemic's impact gradually subsides due to progress in vaccinations," the BOJ said in a quarterly report. "But the outlook is highly uncertain as domestic and overseas economies could be swayed by developments regarding the pandemic," it said. As widely expected, the central bank left its yield curve control (YCC) target unchanged at -0.1% for short-term interest rates and 0% for 10-year bond yields at its two-day rate review that ended on Friday. The BOJ sharply revised up its consumer inflation forecast for the current fiscal year to 0.6% from 0.1% due in large part due to recent rises in energy costs and commodities prices. GREEN SHIFT Separately, the BOJ also said it would start buying green bonds using its foreign reserves. The BOJ's new green push showed it was now focusing on issues beyond the pandemic, said Capital Economics Senior Japan Economist Marcel Thieliant. "While the Board is under no illusion that it will hit its 2% inflation target anytime soon, it has nonetheless scaled back policy support in recent months," Thieliant said. "Indeed, the Bank has now shifted from crisis mode towards addressing long-term structural issues," he added. A resurgence in infections has led the government to impose a new state of emergency in Olympic host city Tokyo less than two weeks before the Games, dashing policymakers' hope of a strong rebound in growth during the quarter. Japan's economy shrank an annualized 3.9% in January-March and likely barely grew in the second quarter, as the pandemic took a toll on service spending. Analysts polled by Reuters now expect the economy to grow 4.2% in the current quarter, lower than an estimate they made last month, due the hit from new pandemic curbs. By Leika Kihara and Daniel Leussink, 16th July 2021. Investing.com

Shorting a stock involves selling a borrowed stock in the anticipation of buying the same stock back at a lower future price and pocketing the difference. Short selling is a normal part of an active trader’s plan as it presents traders with the ability to benefit from an advancing market and a declining one. This article makes use of examples to explain what short selling is, why it is important and lists the top things to consider when short selling stocks. WHAT IS SHORT SELLING AND WHY DO IT? Short selling is the process of borrowing shares via a broker, selling those shares at the current market price and later buying the shares back at a lower price in order to return the shares to the broker. Why short stocks? The answer to this question is multi-layered but in general, shorting stocks presents an opportunity trade a decline in a share’s price. To some, short selling seems rather unethical because you are essentially taking a stance that a company’s share price will fall, which could result in large scale retrenchments affecting many households in the process. To others, this represents an opportunity to speculate in on over-valued stocks or to benefit from the largescale selling of unscrupulous companies. Nowadays, in addition to retail traders, there are well-established hedge funds that focus on short selling, or ‘shorting’ various companies. Some short sellers publish research on companies that are alleged to have reported misleading figures in the publication of financial statements or where there is sufficient evidence of corrupt business practices. Before diving into the world of short selling, we recommend you review the stock market basics. WHAT DOES SHORTING A STOCK INVOLVE? At this stage it may be helpful to differentiate between short selling stocks in the underlying market (non-leveraged) and shorting (selling or taking a short position) via a broker offering leverage. The traditional approach has been set out above, where the short seller borrows shares from a broker, sells the shares and later buys the shares back at a discount to return to the broker. However, the emergence of leverage trading has simplified this process to the point where shorting a stock is simply a matter of clicking the ‘sell’ button for the desired stock on an online platform. Shorting a stock in this way involves: A regulated broker: It is crucial to trade with a regulated broker offering little to no leverage. Liquidity/Borrow: In order to short a stock, the broker must have sufficient ‘borrow’. Borrow refers to having a pool of liquidity providers willing to lend the necessary shares to the broker for its internal hedging requirements. In the absence of borrow, brokers can no longer facilitate short selling and will disable the short selling function until sufficient borrow returns to the market. More liquid stocks tend to provide greater borrow than illiquid stocks. Set risk parameters: When there is sufficient borrow, carry out the necessary analysis, set stops and limits and hit the ‘sell’ button on the online platform. HOW TO SHORT SELL A STOCK The following steps can be followed when shorting a stock: Select the desired market Confirm a down-trending market Predetermine stop losses and limits (risk-to-reward ratio) Enter the short trade The trade is complete once the stop or limit is hit Traders can make use of the 200-day moving average or use trend lines to evaluate whether the stock is in a trending environment. The short selling process can be made clearer by using actual figures in the form of a practical example. SHORT SELLING EXAMPLE Let’s say a short seller wishes to sell 10 shares of Apple Inc as he believes the share price is going to drop in the near future. If the price of Apple is $200 and the margin requirement is 50%, that means the trader would effectively be controlling $2000 ($200 x 10 shares) worth of Apple shares while only putting up $1000 ($2000 x 0.5) as margin. The short seller sets the target at a price of $170 and a stop at $210 to establish a 1:3 risk-to-reward ratio. If price hits the target, the short seller could gain near $300 ($30 x 10 shares), minus any financing fees and commissions. Nominal trade value = $2000 Margin = 50% ($1000) Gain after taking profit = $300 ($30 x 10 shares) Potential loss: $100 ($10 x 10 shares) This example also presents the ideal scenario but financial markets are often unpredictable and do not move as reliably as presented here. It is for this reason that traders should adopt sound risk management practices from the outset. WHAT ARE THE RISKS WHEN SHORT SELLING STOCKS? When learning how to short sell stocks it is crucial to keep the following in mind: Potential for unlimited losses -Short positions without stops, theoretically have the potential for unlimited losses. There is no limit to the price of a share can rise to which further underscores the importance of stops. Short squeeze –A short squeeze occurs when short traders witness a rise in price (contrary to what was expected) leading to losses that eventually force traders to buy (to close the trade) at a higher price and take a loss. Price gains more upward momentum as more short sellers buy to close their positions. Below is an example of a short squeeze using the US 500 (S&P 500): Unborrowable stock – In plummeting markets, even the most liquid shares can become unborrowable and therefore, prevent the opening of any new short positions. Traders need to keep this in mind but should also not allow this to force them into a rushed entry. SHORT SELLING STOCKS: KEY TAKEAWAYS Shorting a stock has been made a lot easier with the advancements in technology and forms a part of a trader’s skillset. However, unlike the forex market, stock traders are faced with the unique problem of unborrowable stocks that prohibit any shorting of stocks. Traders should only consider initiating a short trade after conducting the necessary technical and/or fundamental analysis while adhering to sound risk management practices. As a reminder, the top 5 takeaways for shorting a stock are: Use a regulated broker: Consider using a highly regulated, reputable broker when short selling stocks. Trend: In the absence of a well-established downtrend, traders should set entry orders at favorable levels in the event the market gets there. Shares have the potential to trading gap down – especially if negative information finds its way into the public domain. In such fast-moving markets, traders can miss a favorable entry when away from the trading screen and orders can help. Liquidity/Borrow: Is the stock trading on a major exchange with a healthy number of shares changing hands daily, otherwise known as ‘free-float’? Greater liquidity tends to translate into more borrow being made available to short sellers and greater flexibility to short the stock. Borrow charge: In addition to any overnight funding charges on open positions held overnight, there are often ‘borrow charges’ that apply to short positions to allow short sellers to participate in the market. It is always a good idea to enquire about such a charge with your broker before placing a trade. Risk Management: Since short trades theoretically have unlimited losses with limited gain (price can only drop to 0), traders need to make use of stops and limits to rectify an inherently skewed risk-reward payoff. SHORT SELLING STOCKS FAQS What are the top stocks to short? Stocks that become attractive to short sellers vary by industry and sector. Therefore, there is no single stock that traders should target for a short trade. Short sellers apply a number of analysis techniques - mainly fundamental in nature - looking at revenue and debt to equity ratios but also looks at other aspects of the business like the corporate governance structure and caliber of senior management. All the major stock indices can be viewed on our major stock indices page. How long can you short a stock? There is no limit to the length of time traders can hold long positions. This is because shares are owned outright and do not involve borrowing someone else’s shares. Shorting stocks on the other hand involves borrowing shares that can be recalled by the broker at any time. There is no set length of time that traders will typically be able to hold a short trade and this will depend entirely on the market conditions at the time and when the owner of the shares wishes to liquidate those very shares. Article by Richard Snow, Markets Writer, 16th July 2021. DailyFX

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: Expecting tentative higher start in Europe. NKY gains as BoJ raises Japan 2022 GDP. Dow ends Thursday close to record high FX: Watching USD ahead of US retail sales. Risk event of the week next week with Daily FX – EURGBP around ECB rate decision. Also USDNOK upside break-out on weak oil Equities: RIO iron ore shipments down 12% on weather related issues. Waiting on BRBY. AA earnings last night saw stk close down. China plans to exempt HK IPOs from cybersecurity reviews Commods: Gold lower but holds 200-day SMA. Oil up but remains well down on the week. Lumber takes yet another leg down. https://community.ig.com/igtv/

As oil stalls on speculation that the latest OPEC compromise agreement will see more oil emptied on the market, and as the spread of the next wave of Covid brings about concerns of a slowdown in demand, commodity currencies are getting hit. USDCAD another to watch but USDNOK the closest to a breakout. Crude oil correlation with commodity FX: USDNOK ready for a breakout to a high for the year?

EUR/GBP weakens after hawkish Bank of England comments EUR/GBP heads back towards key support The sterling strength seen in the wake of these comments has helped drive EUR/GBP back down towards the 0.8472 lows established in April. From a wider perspective we can see that a break below that level would signal a potential move back down towards the 0.8282 lows. Source: ProRealTime From an intraday perspective, the four-hour chart shows how the latest rebound fell short at the 100-simple moving average (SMA) moving average. With the wider trend of lower highs continuing to play out, it looks likely we will see further weakness from here on in. As such, a bearish view holds until price breaks through the prior swing low (currently 0.8618). Source: ProRealTime Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 15 July 2021. IG

© Reuters. By Dhirendra Tripathi, 15th July 2021. Investing.com Investing.com – Netflix (NASDAQ:NFLX) stock was up 2.7% in Thursday’s premarket trading amid increasing chatter it may add video games to its streaming platform. A signal to this effect came Wednesday with the news of the company hiring Mike Verdu as vice president of game development, reporting to Chief Operating Officer Greg Peters. Verdu was previously Facebook’s vice president in charge of working with developers to bring games and other content to Oculus virtual-reality headsets, according to Bloomberg. Netflix plans to offer video games on its streaming platform within the next year, Bloomberg said. The games will appear with the existing portfolio as a new programming genre. While the stock buzzes on the addition of new dimensions to streaming services by the company, it also got a little bump from an upgrade by UBS, which now has a target price of $620, 13% above its closing level on Wednesday. Analyst Eric Sheridan retained his ‘buy’ on the stock, according to StreetInsider.

USD/JPY under pressure after Powell testimony The rally of USD/JPY has stalled as Powell reins in tapering expectations and hits the dollar. The bounce from the 50-day simple moving average (SMA) last week looks to have been a false dawn, and now we wait to see if the price can hold the 50-day MA (¥109.89) once again. The uptrend from late April is under threat, and a drop below ¥109.60 would be a negative development, although it might not bring it to an end entirely. Source: ProRealTime Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 15 July 2021. IG

GBP/USD on the up A more bullish view continues to prevail here, as GBP/USD moves up from the losses earlier in the week. Renewed gains target $1.39, and then on to $1.40, with buyers likely to add on weakness on the way up to this latter target. For now the bearish view is in abeyance, but would be revived with a move back below $1.374. Source: ProRealTime Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 15 July 2021. IG

EUR/USD recovers as dollar weakens EUR/USD rebounded sharply yesterday from its lows as Jerome Powell’s testimony weakened the dollar. For now the buyers might have a chance to push the price back towards $1.188, and above this a more bullish view may prevail. A failure to hold yesterday’s gains hands the initiative back to the sellers and brings $1.177 into view. Source: ProRealTime Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 15 July 2021. IG

Netflix Q2 results are likely to see the weakest quarterly subscriber growth in at least five years. Source: Bloomberg Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Thursday 15 July 2021 11:08. IG When are the Netflix results? Netflix, the world's leading streaming entertainment service, with 207.64 million paid memberships in over 190 countries, is scheduled to report quarter two (Q2) 2021 financial results on Tuesday 20 July at 1pm (Pacific time). What to expect from Netflix Q2 2021 results? Netflix results are expected to highlight a softer quarter for the group, when considering a high base of comparison in the previous year’s corresponding quarter. While 2020 saw a surge in appetite for on demand viewing, in lieu of Covid-19 and accompanying lockdown restrictions, the vaccine rollout in key markets has opened up activity options as society returns to some semblance of normality. The group has guided the following in terms of the upcoming Q2 2021 results: Revenue: $7.3 billion Operating income: $1.865 billion Operating margin: 25.5% Global streaming paid memberships: 208.64 million Global streaming paid net additions: 1 million How to trade Netflix’s results Netflix results always find an increased investor emphasis on the groups global streaming net additions figure. The group’s 1 million new (net) subscriber forecast is a conservative one relatively speaking. The lowest quarterly additions figure since 2016 was 2.2 million subscribers. Weaker subscriber growth does often follow a strong quarter. However, Q1 2021 was not a strong one and in fact it's the worst first quarter in at least five years. In the last 21 quarters (dating back to Q1 2016), only seven of the net subscriber addition figures have fallen short of the group’s guidance, while 14 have exceeded guidance. In times where realised subscriber numbers have fallen short of forecasts, traders have generally been rewarded for accumulating as weakness plays out. In times where actual subscriber numbers have exceeded forecasts, traders have been rewarded for buying into initial strength and locking in profits over the following few days. In terms of an institutional view as of 14 July 2021, a Refinitiv poll of 45 analysts have an average rating of ‘buy’ for Netflix, with a long-term price target (mean) of $613.68. Source: IG charts Learn more on how to buy, sell and short Netflix shares Netflix share price – technical view The share price of Netflix remains in a broad trading range between levels $469.80 (support) and $563.00 (resistance). In the near term we have seen a ‘W’ shaped bullish price reversal near the aforementioned support area of this range. The move higher which has followed, has pushed the price of Netflix back into overbought territory. Traders might prefer a pullback from overbought territory back towards the $510.00 level for long entry. The chart also highlights (blue circles) how oversold signals have been positive entry points into Netflix over the last 12 months or so. Source: IG charts Summary Netflix is expected to see subscriber growth slow as lower pandemic restrictions ease viewing appetite Net paid subscriber additions of 1 million are expected, the lowest quarterly growth figure in at least five years Revenue is forecast at $7.3 billion for the quarter Operating income is forecast at $1.865 billion for the quarter The average broker rating for Netflix is ‘buy’ Technical traders might hope for a pullback from overbought territory to find long entry into the share

Initial Jobless Claims measures the number of people who filed for unemployment insurance for the first time during the past week. This is the most timely U.S. economic data, but the market impact varies from week to week.A reading that is higher than forecast is generally negative (bearish) for the USD, while a lower than forecast reading is generally supportive (bullish) for the USD. 13:30 UK Time

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SINGAPORE (Reuters) -Oil prices fell nearly 1% on Thursday, extending losses as investors braced for more supplies following a compromise between top OPEC producers and as U.S. fuel stocks rose, raising concerns about demand in the world's largest consumer. Brent crude futures for September dropped 59 cents, or 0.8%, to $74.17 a barrel by 0409 GMT while U.S. West Texas Intermediate (WTI) crude for August was at $72.51 a barrel, down 62 cents, or 0.9%. Both benchmarks slid more than 2% on Wednesday after Reuters reported that Saudi Arabia and the UAE reached a compromise that should pave the way for a deal to supply more crude to a tight oil market and cool soaring prices. "The market is not taking any chances. Prices are very overbought anyway so traders might want to take some money off the table before the deal is concrete," said Avtar Sandu, senior commodity trader at Phillips Futures in Singapore. Talks among the Organization of the Petroleum Exporting Countries and their allies including Russia, a group known as OPEC+, had broken down earlier this month after the UAE objected to extending the supply cut deal beyond April 2022. "The deal will take some time to get finalized, but it seems the UAE will be allowed to produce more output next year," OANDA analyst Edward Moya said in a note. "It seems OPEC+ will shortly have a plan to raise output and that is welcomed news as surging demand had oil market getting too tight." In the United States, crude stockpiles fell for an eighth straight week last week, but gasoline and diesel inventories rose despite a drop in refinery utilization rates, data from the Energy Information Administration showed on Wednesday. The large drawdown in crude stocks did little to boost oil prices as traders focused on the first rise in total petroleum stocks since early June, Moya said. However, the world's top crude importer China on Thursday reported record crude processing volumes at its refineries in June, easing some of the downward pressure on oil prices. Elsewhere, the prospect of a quick return of Iranian supplies to global markets has been pushed back as negotiations over the revival of the 2015 nuclear deal will not resume until mid-August. By Florence Tan, 15th July 2021. Investing.com

TOKYO (Reuters) - Asian shares advanced on Thursday as economic data from China was largely more resilient than expected, and as U.S. Federal Reserve Chair Jerome Powell said tapering of its massive stimulus was still a way off. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4%, with Hong Kong's Hang Seng rising 1.0%. Mainland Chinese shares were little changed with CSI300 index almost flat. China's second-quarter economic growth fell just short of forecasts on an annual basis, with GDP growth slowing to 7.9% from a year earlier from a record 18.3% expansion in the January-March period. But seasonally adjusted growth of 1.3% on the quarter in April-June was slightly better than expected. Monthly data for June, including retail sales, industrial output and fixed investments, showed growth softened but not as much as expected, adding to views that policymakers may do more to support the recovery. Earlier in the day, China's central bank partially rolled over maturing, one-year medium-term lending facility (MLF) loans, injecting 100 billion yuan ($15.46 billion). Around 1 trillion yuan in long-term liquidity was also released into the Chinese financial system from Thursday after the PBOC last week said it would cut the amount of cash banks must hold as reserves. "On the whole the PBOC is loosening but it is not flooding the banking system like the Fed does. And today's economic data wasn't that bad," said Masahiko Loo, portfolio manager at Alliance Bernstein. Japan's Nikkei bucked the trend, with Nikkei falling 0.9%, hurt by worries about rising domestic COVID-19 infections. Wall Street shares were mixed, with S&P ending 0.12% higher and Nasdaq down 0.22%. In testimony to the U.S. House of Representatives Financial Services Committee, Powell said the U.S. economy was "still a ways off" from levels the central bank wanted to see before tapering its monetary support. He also said he is confident recent price hikes are associated with the country's post-pandemic reopening and will fade. His comments came after data published this week showed consumer prices increased by the most in 13 years in June while producer prices accelerated to the largest annual increase in more than a decade. Powell gave fresh assurance to the markets that the Fed is not too hawkish about taming inflation, said Chotaro Morita, chief rates strategist at SMBC Nikko Securities. Bond yields dipped globally, with the 10-year U.S. Treasuries yield slipping to 1.336%, having peaked out at 1.423% on Wednesday. The yield on inflation-protected bonds, sometimes called the real yield, dropped below minus 1.0%, staying near its lowest levels since February. "Given declines in bond yields started before Powell's speech, the market was probably driven more by short-covering and unwinding of underweight positions than Powell's comments per se," SMBC Nikko's Morita also added. In the currency market, Powell's dovish stance put a dent on the U.S. dollar. The euro bounced back to $1.1826 from Wednesday's three-month low of $1.1772. The dollar stood at 109.88 yen after 0.6% fall on Wednesday. The Chinese yuan dipped to 6.4693 per dollar in Asia after hitting a three-week of 6.4508 overnight. Gold jumped to a one-month high of $1,829.8 per ounce on Wednesday and last stood at $1,826.1. Oil prices eased after major global oil producers came to a compromise about supply and after U.S. data showed demand slacked off a bit in the most recent week. U.S. crude futures dropped 1.0% to $72.40 per barrel while Brent futures lost 0.8% to $74.18 per barrel. ($1 = 6.4693 Chinese yuan renminbi) By Hideyuki Sano, 15th July 2021. Investing.com

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: Europe little moved from Wed close. Asia mostly higher, NKY down FX: USD falls - Powell retains line that inflationary is ‘transitory’. Watching GBP as BoE MPC member warns of ‘tighter’ conditions earlier than expected – waiting UK jobs data. GBPEUR 3mth high Econ data: China GDP 7.9% YoY falls short of 8.1% forecast. China retail sales better that expected Equities: Earnings today ASC SVT EXPN HAS MS AA Commods: Gold rises to hit 200 SMA on weaker USD https://community.ig.com/igtv/

IG Trading the Markets Podcast: Cybersecurity specialist, Neira Jones, discusses recent concerns around data security as one of the main reasons for the intervention by Chinese authorities in the affairs of Chinese corporates in the West, including DiDi and Alibaba. Our Podcasts are now available on Spotify, Apple Podcasts, Google Podcasts and Deezer Podcasts. You can also find more information by following the link here.

IG Trading the Markets Podcast: Cybersecurity specialist, Neira Jones, discusses recent concerns around data security as one of the main reasons for the intervention by Chinese authorities in the affairs of Chinese corporates in the West, including DiDi and Alibaba. Our Podcasts are now available on Spotify, Apple Podcasts, Google Podcasts and Deezer Podcasts. You can also find more information by following the link here.

Wells Fargo smashes profit estimates on reserve release boost. © Reuters. FILE PHOTO: A Wells Fargo logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo (Reuters) -Wells Fargo & Co swung to a profit in the second quarter, smashing Wall Street expectations, as it released $1.6 billion in funds it had set aside to cover loans that might have gone bad. By Noor Zainab Hussain and Matt Scuffham, 14 July 2021. Investing.com

Apple has asked its suppliers to build up to 90 million iPhones this year, a steep increase from the first year of the pandemic, according to a Bloomberg report citing anonymous sources. The news suggests that the iPhone maker expects demand for upgrades to increase substantially as the roll-out of 5G services across the U.S. and further afield gathers pace. The report said that Apple is also exploiting the problems of Huawei, whose mobile phone business has been hobbled by U.S. restrictions on the supply of vital components to it. The report lifted Apple stock some 1.4% in premarket trading to a new all-time high. Shares in suppliers such as Taiwan Semiconductor Manufacturing (NYSE:TSM) and Hon Hai Precision Industry (OTC:HNHPF) – also known as Foxconn – also rose in the Asian session. 14th July 2021, by Geoffrey Smith. Investing.com

Investors now await Fed Chairman Jerome Powell's testimony before Congress on Wednesday and Thursday. Although Powell has repeatedly insisted that higher inflationary pressures would be temporary, his testimony will be scrutinized for any hints on when the central bank will begin asset tapering and hike interest rates. This will be at 5PM UK Time. What will happen to the Dollar, will it continue trading lower ? Investing.com

The Bank of Canada will update its economic forecasts at a policy announcement later in the day (3PM UK Time), where the central bank is widely expected to announce further asset tapering. The Canadian dollar held its biggest decline in a week ahead of the announcement, largely unchanged at C$1.2500 against its U.S. counterpart but weakening toward the two-and-a-half-month low of C$1.2590 reached during the previous week. Other central banks will also hand down their policy decisions later in the week, with the Bank of Korea’s decision due on Thursday and the Bank of Japan’s decision due a day later. By Gina Lee, 14th July 2021. Investing.com

Hi @Chandrasegaran, for SL and TP line: Top left of the platform select 'Tools'> 'Options'> and then select 'Charts' tab, tick the box 'Show trade levels' For One Click Trading, top left of the platform select 'Tools'> 'Options'> and then select 'Trade' tab, tick the box 'One Click Trading' All the best - Mongiwethu