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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

Bank of America shares dropped after posting second-quarter revenue below analysts’ expectations. BAC down 2.3% after earnings disappointment. Earnings: $1.03 a share, including a one-time $2 billion tax benefit. It wasn’t immediately clear how that figure is comparable to the 77 cents estimate of analysts surveyed by Refinitiv. Revenue: $21.6 billion, just under the $21.8 billion estimate. 14th July, 2021. News from CNBC

The dollar edged lower in early European trade Wednesday, handing back some of the previous session’s sharp gains after a jump in U.S. inflation raised expectations of an early move by the Federal Reserve to tighten monetary policy. At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 92.698, falling back from the previous session’s high of 92.832, just below the three-month peak of 92.844 reached last week. USD/JPY dropped 0.1% to 110.48, EUR/USD rose 0.1% to 1.1789, just above its three-month low of 1.1772, while the risk-sensitive AUD/USD rose 0.2% to 0.7460. U.S. consumer prices rose by 0.9% in June, the most in 13 years, with the year-on-year figure soaring 5.4% as the economic recovery gathered momentum. “While everyone expected price pressures to increase, [this] report illustrates how significant the problem has become. Not only are prices rising sharply, but the increases are more widespread, which means prices can remain high for longer,” said Kathy Lien, an analyst at BK Asset Management, in a note. This puts the spotlight firmly on Fed chair Jerome Powell as he testifies before Congress on Wednesday and Thursday, with the market looking for any signals on the timing of a tapering of stimulus and higher interest rates. Elsewhere, GBP/USD rose 0.2% to 1.3837 after U.K. consumer prices climbed 2.5% on the year in June, the biggest rise since August 2018 and the second month in a row that inflation has surprised to the upside. While this will increase the pressure on the Bank of England to act, the data also showed factory gate prices rising more slowly, suggesting that the impact of the sharp commodity price rises is fading. NZD/USD soared 1.2% to 0.7026 after New Zealand's central bank ended its NZ$100 billion bond-buying program, effectively signaling that an interest rate hike was just around the corner. The country’s economy has been less affected by the Covid-19 pandemic than many, growing 1.6% in the first quarter, raising concerns that the simulative monetary policies could lead to overheating. There are more central bank meetings due Wednesday. The Bank of Canada is widely expected to announce further asset tapering, while Turkey’s central bank is likely to keep interest rates unchanged for the fourth consecutive month given a weak currency and rising prices. USD/CAD traded 0.1% lower at 1.249 and USD/TRY rose 0.1% to 8.6261. Also, USD/ZAR fell 0.2% to 14.6922, with the rand bouncing slightly after falling almost 3% over the last week in the wake of the violence that erupted following the jailing of former President Jacob Zuma. By Peter Nurse, 14th July 2021. Investing.com

RESERVE BANK OF NEW ZEALAND, NZD/USD, MONETARY POLICY, LSAP – TALKING POINTS RBNZ holds Overnight Cash Rate steady at 0.25%, as expected Large Scale Asset Purchases (LSAP) to be halted this month NZD/USD climbs over technical barriers as price climbs over 1% The Reserve Bank of New Zealand (RBNZ) held its Overnight Cash Rate (OCR) steady at 0.25 percent, as widely expected. However, the central bank moved to halt its Large Scale Asset Purchases (LSAP) by July 23. The end of its quantitative easing program marks a major turning point in reducing stimulus to the economy. The New Zealand Dollar saw broad strength following the Monetary Policy Statement (MPS) crossing the wires, as traders quickly priced in the hawkish policy move. Upbeat economic conditions above RBNZ estimated targets were a primary reason noted for the pullback in support. Still, RBNZ members remain wary of the volatile situation regarding the ongoing pandemic and agree that a level of ongoing stimulus is necessary to meet its objectives. House prices were addressed, with the MPS seeing the rate of growth as of late being “unsustainable,” although some upward pressures have declined. Prices elsewhere are seen picking up pace for the June and September quarters but are viewed as being temporary due to pandemic-induced factors such as constrained supply. NEW ZEALAND DOLLAR TECHNICAL FORECAST NZD/USD jumped a full percentage point higher, climbing over its 20-day Simple Moving Average (SMA) and a trendline from the May swing high. Both the MACD and RSI oscillators are pointing higher, reflecting the sharp upside move. To the downside, the recently breached trendline may offer to support prices. Alternatively, the June high at 0.7095 may serve as a target for bulls. NEW ZEALAND DOLLAR DAILY CHART Chart created with TradingView By Thomas Westwater, Analyst, 14th 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: Softer markets after declines on Wall St following stronger US inflation data FX: NZD sharp gains as RBNZ will end QE. Watching GBP ahead of CPI RPI PPI data. USD in view later as Powell speech expected to focus inflation Equities: US Q2 earnings - C WFC BAC DAL, UK - DNLM PAGE Commods: Lumber takes another leg lower as gold adds more weight https://community.ig.com/igtv/

Hi @Guest Adam.H, yes you can launch a ProRealTime account. How to get ProRealTime: Open an IG account, open My IG, launch ProRealTime (Activate ProRealTime via 'settings' in My IG) and then start dealing on ProRealTime. For more information on ProRealTime click this link https://www.ig.com/uk/trading-platforms/prorealtime . Can you add some clarity about what you're wanting to do. If you want automated trading are you looking at using an API? Let me know so I can give you to correct, relevent data. All the best - Mongiwethu

US inflation came in higher than expected in June as the Bureau of Labor Statistics reported the largest one-month and 12-month increases since 2008. The Consumer Price Index for All Urban Consumers rose by 0.9% in June, up from 0.6% in the previous month, while the 12-month rate was at 5.4%, beating a market expectation of 4.9%. European indices have been largely treading water today, with a sharp rise in US inflation driving GBPUSD lower to offset some of the fears around a more hawkish stance at the Fed. With both core and headline inflation outstripping expectations, the core reading of 4.5% is perhaps the most notable given that it removes the kind of volatile aspects that the Fed could use to explain away such a rise. Instead, we are seeing prices continue to push higher in a move that many will believe could undermine the view that this is simply a transitory rise in prices. Nonetheless, the relatively muted market reaction does highlight the fact that many have growth accustomed to the idea of near-term inflation, with the threat of a hawkish Fed seemingly disregarded for now. Nonetheless, while markets remain somewhat optimistic that near-term inflation will be fleeting in nature, there is a very real risk that elevated prices persist to the point that the Fed is forced to shorten the timescales associated with the first rate rise. One key signal of where prices will move comes from the price of key commodities, with the recent collapse in lumber highlighting how producers could soon lower prices to reflect this chance in costs. What are your thoughts on the US inflation data released and direction for the markets ?

Hi @Guest Thomas, we do not offer wallets. However when you make a deposit you will see your funds displayed on your Dashboard when you are logged into your My IG account, select Live Accounts and it will show overview of your funds and balances. When you make a deposit please ensure that any card, PayPal or bank account is in your name when depositing into your IG account, as we’re unable to accept any third-party funding. You can deposit funds with a credit card, debit card, PayPal account or via a bank transfer. For more detail on make a deposit please kindly visit this link: https://www.ig.com/uk/help-and-support/deposits-and-withdrawals/deposits/how-do-i-deposit-funds-into-my-account . If you're referring to Crypo wallets this isn't something we offer. We offer leveraged Crypto trading. All the best - Mongiwethu

OPEC+ deadlock is bad news for oil producers and consumers, IEA warns. PUBLISHED TUE, JUL 13 2021. CNBC

JPMorgan Chase $JPM beats analysts' expectations on both top and bottom lines. Q2 EPS at $3.78 vs $3.16 estimated, and revenue at $30.5Bln vs $30Bln expected. 13th July, 2021. Reported by CNBC

JPMorgan Chase $JPM beats analysts' expectations on both top and bottom lines. Q2 EPS at $3.78 vs $3.16 estimated, and revenue at $30.5Bln vs $30Bln expected.

INTRODUCTION TO MOVING AVERAGES: Moving Average – Talking Points: What is a moving average? How do you calculate moving average? What is the purpose of moving averages? How do you interpret moving averages? WHAT IS A MOVING AVERAGE? In technical analysis, the moving average is an indicator used to represent the average closing price of the market over a specified period of time. Traders often make use of moving averages as it can be a good indication of current market momentum. The two most commonly used moving averages are the simple moving average (SMA) and the exponential moving average (EMA). The difference between these moving averages is that the simple moving average does not give any weighting to the averages in the data set whereas the exponential moving average will give more weighting to current prices. HOW DO YOU CALCULATE MOVING AVERAGE? As explained above, the most common moving averages are the simple moving average (SMA) and the exponential moving average (EMA). Almost all charting packages will have a moving average as a technical indicator. The simple moving average is simply the average of all the data points in the series divided by the number of points. The challenge of the SMA is that all the data points will have equal weighting which may distort the true reflection of the current market’s trend. The EMA was developed to correct this problem as it will give more weighting to the most recent prices. This makes the EMA more sensitive to the current trends in the market and is useful when determining trend direction. The mathematic formula for each can be found below: Simple Moving Average: SMA = Where: A= Is each of the data points n = Number of time periods For example, looking at a 5-day SMA on a daily chart of EUR/USD and the closing prices over the 5 days are as follows: Day 1: 1.321 Day 2: 1.301 Day 3: 1.325 Day 4: 1.327 Day 5: 1.326 SMA = (1.321 + 1.301 + 1.325 + 1.327 + 1.326)/5 SMA = 6.6/5 SMA = 1.32 Exponential Moving Average: EMA = Where: EMAt= EMA today Vt= Value today EMAt = EMA today s =smoothing d = number of days Steps for calculating EMA: 1. Calculate the SMA for the particular time period 2. Calculate the multiplier for weighting the EMA using the formula: [2 ÷ (selected time period + 1)]. So, for a 10-day moving average, the multiplier would be [2/(10+1)]= 0.01818. 3. Use the smoothing factor combined with the previous EMA to arrive at the current value. For example, looking at a 10-day EMA for a share, the table below displays how the EMA would be calculated: DATE PRICE 10-DAY SMA SMOOTHING CONSTANT 2/(10 + 1) 10-DAY EMA 1 24-Apr-18 23.24 2 25-Apr-18 22.99 3 26-Apr-18 22.85 4 27-Apr-18 23.00 5 28-Apr-18 22.96 6 29-Apr-18 22.21 7 30-Apr-18 21.99 8 1-May-18 22.43 9 2-May-18 22.24 10 3-May-18 22.55 22.65 22.65 11 4-May-18 22.15 22.54 0.1818 22.56 12 5-May-18 22.39 22.48 0.1818 22.53 13 6-May-18 22.38 22.43 0.1818 22.50 14 7-May-18 22.61 22.39 0.1818 22.52 15 8-May-18 23.36 22.43 0.1818 22.67 16 9-May-18 24.05 22.62 0.1818 22.92 17 10-May-18 23.75 22.79 0.1818 23.07 18 11-May-18 23.83 22.93 0.1818 23.21 19 12-May-18 23.95 23.10 0.1818 23.35 20 13-May-18 23.63 23.21 0.1818 23.40 WHAT IS THE PURPOSE OF MOVING AVERAGES? The main purpose of the moving average is to eliminate short-term fluctuations in the market. Because moving averages represent an average closing price over a selected period of time, the moving average allows traders to identify the overall trend of the market in a simple way. Another benefit of the moving average is that it is a customizable indicator which means that the trader can select the time-frame that suits their trading objectives. Moving Averages are often used for market entries as well as determining possible support and resistance levels. The moving average often acts as a resistance level when the price is trading below the MA and it acts as a support level when the price is trading above the MA. HOW DO YOU INTERPRET MOVING AVERAGES? There are 3 ways in which trader’s use the moving average: To determine the direction of the trend To determine support and resistance levels Using multiple moving averages for long- and short-term market trends 1. To determine the direction of the trend: When prices are trending higher, the moving average will adjust by also moving higher to reflect the increasing prices. This could be interpreted as a bullish signal, where traders may prefer buying opportunities. The opposite would be true if the price was consistently trading below the moving average indicator, where traders would then prefer selling opportunities due to the market signaling a downward trend. 2. The moving average for support and resistance levels: The moving average can be used to determine support and resistance levels once a trader has placed a trade. If the trader sees the moving average trending higher, they may enter the market on a retest of the moving average. Likewise, if the trader is already long in an uptrend market, then the moving average can be used as a stop loss level. The opposite is true for down trends. The charts below are examples of how the moving average can be used as a both a support and a resistance level. 3.Making use of multiple moving averages It is common for traders to make use of multiple moving average indicators on a single chart, as depicted in the chart below. This allows traders to simultaneously assess the short and long-term trends in the market. As price crosses above or below these plotted levels on the graph it can be interpreted as either strength or weakness for a specific currency pair. This method of using more than one indicator can be extremely useful in trending markets and is similar to using the MACD oscillator. When making use of multiple moving averages, many traders will look to see when the lines will cross. This phenomenon is referred to as ‘The Golden Cross’ when a bullish pattern is formed and ‘The Death Cross’ when the pattern is bearish. A Golden cross is identified when the short-term moving average (such as the 50-day moving average) crosses above the long-term moving average (such as the 200-day moving average), while the Death cross represents the short-term moving average crossing below the long-term moving average. Traders that are long, should view a Death Cross as a time to consider closing the trade while those in short trades should view the Golden Cross as a signal to close out the trade. MOVING AVERAGE INDICATOR: A SUMMARY In summary, the Moving Average is a common indicator used by traders to determine trends in the market. Many traders use more than one Moving Average at a time as this gives a more holistic view of the market. Moving averages are often used to determine market entries as well as support and resistance levels. BECOME A BETTER TRADER WITH OUR TRADING TIPS Learn more about the moving average and other technical indicators Learn more about how to be a successful trader with the Traits of a successful trader training guide Get tips on how to create trading plan Article by Tammy Da Costa, Markets Writer, 12th July 2021. DailyFX

Hard lockdown extension and political unrest weigh on the rand Source: Bloomberg Hard lockdown extension and political unrest weigh on the rand. The rand has found itself under renewed duress, this time predominantly from factors domestic rather than those external. While an extended hard lockdown in South Africa will have provided some domestic excuse for ZAR weakness, looting and violence in Kwazulu-Natal (KZN) and Johannesburg have further decreased short term appetite for the currency, which reflects Africa’s most advanced economy. Violence and destruction of property in KZN, and to a lessor extent in Johannesburg, appears to have stemmed from political activism from those protesting the recent incarceration (for contempt of court) of former South African president Jacob Zuma. The rioting has caused many factories and businesses in KZN to shut down temporarily, as fear and the unavailability of public transport disrupt economic activity in lieu of safety. The South African National Defense Force (SANDF) has now released a public statement in which it has guided that the process of deploying military to assist law enforcement in regions affected has begun. Political unrest and violence is expected to continue to weigh on the rand until such time as government and its authorities can gain some control over the matter. The need to deploy military assistance to the matter highlights the severity thereof. Dollar strength another risk to the ZAR The new week sees two key catalysts which could affect the dollar and in turn its crossing with the ZAR. External themes such as the path of monetary policy in the US remain prevalent in the longer term outlook for movements against the ZAR. The US will release inflation data on Tuesday a key metric for Federal Reserve policy and the timing of rates and stimulus unwinding. The inflation data is followed by commentary on Wednesday from Federal Reserve Chairperson Jerome Powell. The USD/ZAR – Technical Analysis Source: IG Charts The USD/ZAR has now started to move aggressively towards our previously guided target of R14.55/$. The move higher starts to further validate our assumptions that this could be the start of a longer term trend reversal (from down to up). A break of the R14.55/$ level sees R14.70/$ and R15.10/$ as further upside resistance targets from the move. Traders who are long might consider using a close below R14.13/$ as a stop loss indication. In Summary - Violence and looting in KZN and Johannesburg couples with an extended lockdown to see rand underperforming emerging market peers - Business activity in KZN has been severely disrupted as public transport grinds to a halt and factories and businesses address safety concerns - The SANDF is in the process of deploying military to support law enforcement agencies - The civil unrest could continue to weigh on the rand until such time as the Government can regain control of the situation - US inflation data on Tuesday and commentary from Fed Chair on Wednesday is likely to affect short term ZAR movements - Short term trend for USD/ZAR is up with R14.55/$ and R14.70/$ initial resistance targets Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Monday 12 July 2021 17:29. IG news

Hi @dreamingmonkey, thanks for your question. The replay function unfortunately is not available on the IG web platform but is available on our MetaTrader 4 platform using strategy tester function on your PC/Laptop. I will pass this message to our developers team. To find out more on the different features of our platforms and comparisons please kindly visit https://www.ig.com/uk/trading-platforms/compare-trading-platforms. All the best - Mongiwethu

Hi @bill02, may you please kindly take a screenshot of your charts on your mobile device and also take on your laptop for both Bitcoin and Ether. Make both charts 4hour timeframe for each instrument, so we can have a look see. All the best - MongiIG

Earnings season provides a great opportunity for equity traders to gain insight on stocks they have invested in, while also offering context to potential share price moves. Read on for more on what earnings season is, earning announcement dates to know, and what to look for in an earnings report. WHAT IS EARNINGS SEASON & WHY IS IT IMPORTANT? Earnings season is a period each fiscal quarter, usually lasting several weeks, where many of the largest listed companies announce their latest financial accounts. An earnings report consists of revenue, net income, earnings per share (EPS) and forward outlook, amongst a bevy of other data points, which can help to provide investors with insight relating to the current health and outlook for the company. This information can be found on sec.gov, various financial publications, and individual companies' websites. Earnings season is important because it helps market participants glean information from the companies that they are monitoring along with the broader index. For example, a strong Apple (AAPL) earnings report may see investors bullish on Nasdaq 100 futures, a concept discussed further below when looking at bellwether stocks. Something else that can accompany an earnings release is an earnings call. This is a conference between the company and analysts, press and investors which discusses the outcome of an earnings report and, in many cases, opens the floor for questions to company management. Such scrutiny of the reports can enable traders to access more information to further inform their decisions, although not all companies hold earnings calls. WHEN IS EARNINGS SEASON & WHEN DO REPORTS COME OUT? Earnings season takes place typically a few weeks after each quarter ends (December, March, June, September). In other words, earnings seasons begins around January-February (Q4 results), April-May (Q1 results), July-August (Q2 results) and October-November (Q3 results), with the unofficial start of earnings season usually marked by when the major US banks report results. This typically coincides with an increase in the number of earnings being released, while the unofficial end of earnings season is usually around the time that Walmart (WMT) announces its earnings report. 3 THINGS TO LOOK FOR IN COMPANY EARNINGS REPORTS There are a number of factors to look for in company earnings reports. Traders should be most mindful of the performance of the largest ‘bellwether’ stocks, understand the significance of an earnings recession in a given stock, and grasp how a stock’s earnings announcement might impact a relevant index, depending on the weighting of the given security. 1) Performance of bellwether stocks When analyzing company earnings, it is important to look out for ‘bellwether’ stocks which can be seen as a gauge for the performance of the macro-economy. While the status of a bellwether stock can change over time, the largest and most-established companies are typically considered a bellwether stock. Examples of Bellwether stocks are: FedEx (FDX): Ships goods for consumers and businesses across the globe Caterpillar (CAT): World’s largest heavy-duty machinery maker has been viewed as a bellwether given its large exposure to construction, manufacturing and agricultural industries, particularly in China 3M (MMM): Gauge for the health of the manufacturing sector Apple (AAPL): Among the world’s largest companies. Important for key suppliers, in particular, chipmakers. 2) Earnings recession An earnings recession is characterized as two consecutive quarters of year-on-year declines in company profits. However, while earnings are an important factor in stock market returns over the long term, an earnings recession does not necessarily coincide with an economic recession. The chart below shows that in the past six earnings recessions witnessed in the US, only two had coincided with an economic recession. The blue circles show where there was an earnings recession without an economic recession, while the red circles represent where both an earnings and economic recession occurred. 3) Earnings and stock index weighting Traders should understand that when trading earnings, certain stocks will have a greater impact on the wider index according to their index weighting. For example, when trading the Dow Jones, Boeing releasing its earnings will be highly influential on the index, while Visa likely won’t be as influential, due to the former’s 9.49% weighting compared to the latter’s 4.41%, as shown in the table below. This highlights the importance of paying close attention to bellwether stocks and how they may impact a broader equity index. TRADING DURING EARNINGS SEASON: TOP TIPS We have an in-depth guide on how to trade earnings season, but the important things to remember are: 1) Know the ‘expected’ results Being cognizant of what is ‘expected’ with regards to the revenue/sales and earnings per share (EPS) figures are important because a company’s share price reaction can often be determined by the amount by which they beat/miss an aggregate of analysts’ expectations. 2) Stay alert to surprise announcements Any surprise announcements that coincide with an earnings report can also impact the share price of a company. These may include stock buybacks/share repurchase programs as well as company guidance. 3) Be aware of spillover effects between stocks An example of spillover impact could be if an investor has a chipmaker stock within their portfolio (EG Dialog Semiconductor), earnings from Apple could have a sizeable impact on the stock. Consequently, it is important to assess related stocks, given that they may reveal the outlook for a sector, thus sparking a possible sector rotation. 4) Consider volatility over the bearing of an expected move Working out the ‘expected move’ on a directional basis for a stock in reaction to the binary earnings event can be a fraught endeavor. Alternatively, a view taken with volatility in mind instead can prepare investors for significant movement without positioning on the wrong side of the eventual outcome. EARNINGS SEASON: KEY TAKEAWAYS FOR INVESTORS AND STOCK TRADERS In summary, earnings season can be an influential driver in a trader’s experience. Make sure you keep up to date on the when the key earnings are released for individual companies in order to proactively plan. Be aware of how bellwether stocks, potential earnings recessions and stock index weightings can influence price movements. Keep a handle on what results are expected for each stock, be mindful of greater potential volatility for either analytical or strategic purposes and understand how one stock’s performance can impact another’s (or an index as a whole). Following these key tips can help the trader to attempt to weather earnings season and navigate the period more consistently. EARNINGS SEASON FAQS What does earnings season tell us about the global economy? Earnings season’s impact on the global economy is dependent on a range of factors, from the performance of given sectors to a variety of fundamental factors. While bellwether companies meeting or exceeding expectations can reflect a strong corporate environment, the stock market interacts with the economy in many different ways – so there isn’t always a predictable relationship between the two. How is earnings season impacted by financial downturns? Financial downturns may impact earnings season in a significant way – dampened demand for products and services caused by a downturn or more prolonged recession can naturally mean earnings failing to hit expectations in multiple sectors. However, perceived defensive stocks such as those in consumer staples or healthcare may weather downturns better or perhaps even become more attractive in such a backdrop. Is earnings season the same dates in the US and UK? When it comes to the US/UK earning season dates, UK and European companies tend to get the bulk of their earnings about two to three weeks after the US. MORE ON EQUITIES Want to build your equities knowledge further? Make sure to check out our stock market articles, with useful, straightforward insight on analyzing the most common capital market assets. Here are a few articles to get you started. Beginner’s Guide to Stock Trading Types of Stocks How to Invest in Dividend Stocks Article by Ben Lobel and Peter Hanks, Strategist. DailyFX 12th July, 2021.

Read about upcoming market-moving events and plan your trading week Week commencing 12 July Chris Beauchamp’s insight US earnings season begins this week, with banks at the top of the list, providing an insight into their own performance in Q2 but also into the US economy’s ongoing recovery. Meanwhile, Chinese GDP, US CPI and UK CPI are key economic events, along with decisions from the Bank of Canada and the Bank of Japan. The week ahead video Economic reports Monday Tuesday Wednesday Thursday Friday Weekly view None Company announcements Monday 12 July Tuesday 13 July Wednesday 14 July Thursday 15 July Friday 16 July Full-year earnings Half/ Quarterly earnings Goldman Sachs, JPMorgan, PepsiCo Bank of America, Wells Fargo, Citigroup, Delta Morgan Stanley, Alcoa, BNY Mellon Trading update Dechra Pharmaceuticals Kier Big Yellow, Dunelm, PageGroup, Barratt Developments, Tullow Oil Hays, ASOS, Severn Trent, Experian, Galliford Try Burberry Dividends FTSE 100: None FTSE 250: BMO Smaller Companies Trust, F&C Investment Trust Dividends are applied after the close of the previous day’s session for each market. So, for example, the FTSE 100 goes ex-dividend on a Thursday, but the adjustment is applied at the close of the previous day, e.g. Wednesday. The table below shows the days in which the adjustment is applied, not the ex-dividend days. Open an account no

AN INTRODUCTION TO TECHNICAL ANALYSIS Technical analysis is becoming an increasingly popular approach to trading, thanks in part to the advancement in charting packages and trading platforms. However, for a novice trader, understanding technical analysis – and how it can help predict trends in the market - can be daunting and challenging. Technical analysis is the study of price movements in a market, whereby traders make use of historic chart patterns and indicators to predict future trends in the market. It is a visual representation of the past and present performance of a market and allows the trader to use this information in the form of price action, indicators and patterns to guide and inform future trends before entering a trade. This technical analysis beginners guide will introduce you to the basics of this trading approach, and how it can be used to trade the financial markets. UNDERSTANDING TECHNICAL ANALYSIS Technical analysis involves the interpretation of patterns from charts. Trader’s make use of historic data, based primarily on price and volume and use this information to identify trading opportunities based on common patterns in the market. Different indicators are applied to charts to determine entry and exit points for traders to maximize a trades potential at good risk-reward ratios. The below chart is an example of a chart with the use of the MACD and RSI indicator. While advocates of fundamental analysis believe that economic factors are the main contributors to movements in the markets, technical analysis traders maintain that past trends can assist in predicting future price movements. Although these trading styles can vary, understanding the differences between fundamental and technical analysis – and how to combine them - can be extremely beneficial. Learn more about combining fundamental and technical analysis HOW TECHNICAL ANALYSIS CAN HELP TRADERS Many traders have found technical analysis to be a useful tool for risk-management, which can be a key stumbling block. Once a trader understands the concepts and principles of technical analysis, it can be applied to any market, making it a flexible analytical tool. Where fundamental analysis looks to identify intrinsic value in a market, technical analysis looks to identify trends, which conveniently can be caused by the underlying fundamentals. Benefits of using technical analysis include the following: Can be applied to any market using any timeframe Technical analysis can be used as a standalone method Allows traders to identify trends in the market USING CHARTS IN TECHNICAL ANALYSIS The below chart is an example of a candlestick chart for the EUR/USD currency pair. Charts are key to technical analysis. This is because the most important measure of a market’s past and current performance is the price itself; this is the starting point when delving into analyzing the potential of a trade. Price action can be represented on a chart as this is the clearest indication of what the price is doing. Charts assist in determining the overall trend, whether there's an upward or downward trend, either over the long or short term or to identify range bound conditions. The most common types of technical analysis charts are line charts, bar charts and candlestick charts. When using a bar or candlestick chart each period will give the technical analyst information on the price from where it opened, the high or low of the period as well as the close. Candlestick analysis is especially useful as the patterns and relationship within them can assist in making forecasts about the future direction of the price. Once a trader has mastered the basics of charting, they can then make use of indicators to assist in determining the trend. TECHNICAL ANALYSIS INDICATORS Indicators are used by technical traders when looking for opportunities in the market. Although many indicators exist, traders often make use of volume and priced-based indicators. These assist in determining where the levels of support and resistance are, how often they are maintained or breached as well ascertaining the length of a trend. A trader can view the price or any other indicator using multiple time frame analysis, ranging from one second to a month which gives the trader a different perspective of the price action. The more popular indicators for technical analysis include: Moving Averages Relative strength index (RSI) Moving average convergence divergence (MACD) The EUR/USD chart below shows how to make use of different indicators. Moving averages and MACD are often used to identify trends in the market while the RSI is typically used to determine possible entry and exit points. Indicators assist traders in analyzing the market, validating trade set ups and determining entry points. LEARN MORE ABOUT TECHNICAL ANALYSIS Review the three most common types of technical analysis charts to compare techniques. Bookmark our technical analysis news feed to stay up to date with the latest insights on current market trends. Join our in-house experts as they explore the main issues affecting trades in the live daily webinars. Look at what makes a trader successful in the Traits of Successful Traders manual. Learn the basics of Forex technical analysis and the benefits of applying it in trading By Tammy Da Costa, Market Writer. 9th July 2021. DailyFX

NEW YORK (Reuters) -Pfizer Inc plans to ask U.S. regulators to authorize a booster dose of its COVID-19 vaccine within the next month, the drugmaker's top scientist said on Thursday, based on evidence of greater risk of reinfection six months after inoculation and the spread of the highly contagious Delta variant. The U.S. Food and Drug Administration (FDA) and the Centers for Disease Control and Prevention (CDC) said, however, in a joint statement that Americans who have been fully vaccinated do not need a booster COVID-19 shot at this time. Some scientists have also questioned the need for booster shots. Pfizer (NYSE:PFE)'s chief scientific officer, Mikael Dolsten, said the recently reported dip in the vaccine's effectiveness in Israel was mostly due to infections in people who had been vaccinated in January or February. The country's health ministry said vaccine effectiveness in preventing both infection and symptomatic disease fell to 64% in June. "The Pfizer vaccine is highly active against the Delta variant," Dolsten said in an interview. But after six months, he said, "there likely is the risk of reinfection as antibodies, as predicted, wane." Pfizer did not release the full set of Israeli data on Thursday, but said it would be published soon. "It's a small data set, but I think the trend is accurate: Six months out, given that Delta is the most contagious variant we have seen, it can cause infections and mild disease," Dolsten said. The FDA and CDC, in their joint statement, said: "We are prepared for booster doses if and when the science demonstrates that they are needed." Pfizer's own data from the United States showed an erosion of the vaccine's efficacy to the mid-80s after six months, Dolsten said, against the variants circulating there in the spring. He stressed that data from Israel and Britain suggests that even with waning antibody levels, the vaccine remains around 95% effective against severe disease. The vaccine, developed with German partner BioNTech SE, showed 95% efficacy in preventing symptomatic COVID-19 in a clinical trial the companies ran last year. Dolsten said early data from the company's own studies shows that a third booster dose generates antibody levels that are five-to-10-fold higher than after the second dose, suggesting that a third dose will offer promising protection. He said multiple countries in Europe and elsewhere have already approached Pfizer to discuss booster doses, and some may begin administering them before a potential U.S. authorization. Dolsten said he believes booster shots are particularly important in older age groups. Dr. Eric Topol, a professor of molecular medicine and director of the Scripps Research Translational Institute in La Jolla, California, said basing the decision on waning antibody protection ignores the role of important other parts of the immune response, including memory B cells, which can make antibodies on demand when challenged by the virus. "You need better studies to be able to assert that. It isn't just neutralizing antibodies," Topol said. Pfizer has previously said people will likely need a booster dose, though some scientists have questioned when, or whether, boosters will be needed. Pfizer plans to launch soon a placebo-controlled efficacy trial of the booster with 10,000 participants. The study will run throughout the fall, Dolsten said, meaning it will not be completed ahead of the company's filing with the Food and Drug Administration. Dr. William Schaffner, a vaccine expert at Vanderbilt University Medical Center, said even if Pfizer succeeds in getting its booster authorized by the FDA, that would be only the first step. The booster would still need to be reviewed and recommended by advisers to the CDC. "It's not automatic by any means," he said. Schaffner said realistically, most of the public health bandwidth in the United States is still focused on encouraging Americans to get their first and second doses of the vaccine. Because boosters would drive increasing demand for vaccines while much of the world is still unvaccinated, Dolsten said Pfizer is looking at ways to boost production. It is already targeting production of 3 billion doses this year and 4 billion doses next year. Dolsten declined to give a forecast of exactly how many more doses the company could add, but said, "We can step up billion after billion in '22." Dolsten also said Pfizer and BioNTech are designing a new version of the vaccine targeting the Delta variant, but said the companies do not believe that the current version will need to be replaced in order to combat the variant. Pfizer expects the COVID-19 vaccine to be a major revenue contributor for years and has forecast sales of $26 billion from the shot in 2021. Global spending on COVID-19 vaccines and booster shots could total $157 billion through 2025, according to U.S. health data firm IQVIA Holdings. By Michael Erman and Julie Steenhuysen (Reuters), 9th July 2021. Investing.com

Investment funds: Julian Cane, manager of BMO Capital and Income Trust, speaks about opportunities presented for the fund in the context of inflation, easy monetary policy, recovery from the global pandemic and the need to continue paying dividends. Why we make Podcasts Podcasts are a great way to develop your trading knowledge and prepare for your time on the markets. You can explore different trends and events with our market deep dives as well as gain incite from our in-house experts and guests. Where can you find them? 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. What Podcasts have we made so far? The IG Trading the Markets podcasts cover a range of topics on current market trends and educational material. Below you can find a list of the podcasts available so far. If you have anything you would like us to talk about, let us know by commenting so we can priorities your topics for our podcasts.

Dollar Up, Investors Digest Fed Minute’s Reaffirm of Taper Timeline. The dollar hovered near a three-month high versus major peers on Thursday after minutes of the Federal Reserve's June policy meeting confirmed the world's biggest central bank is moving toward tapering its asset purchases as soon as this year. The dollar index, which measures the greenback against six rivals, was little changed at 92.687 from Wednesday, when it touched 92.844 for the first time since April 5. Fed officials said substantial further progress on economic recovery "was generally seen as not having yet been met," although participants expected progress to continue and agreed they must be ready to act if inflation or other risks materialize, according to the minutes of the Federal Open Market Committee (FOMC)'s June policy meeting released Wednesday. Various participants at the session still felt conditions for curbing the bond-buying that is supplying markets with cash would be "met somewhat earlier than they had anticipated," while others saw a less clear signal from incoming data, the minutes showed. Economists polled by Reuters expect the Fed to announce a strategy in August or September for tapering its asset purchases. While most predict the first cut to its bond-buying program will begin early next year, about a third of respondents forecast it will happen in the final quarter of this year. "The FOMC remains one of the more hawkish central banks under our coverage," and will begin to discuss a taper at the policy meeting at the end of this month, Commonwealth Bank of Australia strategist Carol Kong wrote in a client note. "We therefore expect the USD to trade with an upward bias." The dollar was mostly flat at $1.17995 per euro, just off a three-month peak of $1.17815 touched overnight, when German data raised doubts about the strength of Europe's economic recovery. Investor sentiment in Germany, the euro zone's biggest economy, fell sharply in July, though it remained at a very high level, the ZEW economic research institute reported. Later on Thursday, European Central Bank President Christine Lagarde will hold a news conference after the monetary authority announces the outcome of an 18-month strategy review, which is likely to include a shift in the inflation target to 2% from "below but close to 2%" currently - which would theoretically allow for inflation overshoots. Elsewhere, the dollar slipped 0.3% to 110.300 yen, as the pair continued to be weighed down by a slide in U.S. Treasury yields. The benchmark 10-year Treasury note yielded 1.3045% on Thursday in Asia after dipping to 1.2960% overnight for the first time since mid-February. "The fall in U.S. yields complicates the picture, but we see it mostly as ... a recalibration of inflation expectations in the wake of the Fed’s hawkish pivot" at the June meeting, when policymakers surprised markets by signaling two interest rate hikes by end-2023, Westpac strategists wrote in a research note. The dollar index "remains a near-term buy on dips into 91.5-92.0," and may rally toward 93.45 to mark a fresh high since early November, the note said. The Australian dollar, widely viewed as a proxy for risk appetite, traded 0.3% weaker at $0.74605, but still near the middle of the broad range in place over the past three weeks. Reserve Bank of Australia Governor Philip Lowe reiterated Thursday that the unemployment rate would need to fall further and hold in the low 4% levels to lift inflation, an outcome not expected until 2024. The previous day, the central bank took its first step towards stimulus tapering by announcing that a third round of its quantitative easing program would be smaller in scale than the previous two. Meanwhile, the New Zealand dollar sank below the psychologically important 70 cent mark, sliding 0.5% to $0.69865. Oil-linked currencies weakened with crude continuing its slide after OPEC+ talks on increasing output ended at an impasse, with Russia now attempting to help bridge differences between Saudi Arabia and the United Arab Emirates. Canada's loonie fell to as low as C$1.25285 per dollar for the first time since April 22. The crown weakened as far as 8.7618 per dollar, a level not seen since December 21. By Kevin Buckland, Reuters, 8th July 2021. Investing.com

STOCK MARKETS NEW YORK (Reuters) - Stock investors are watching the dramatic moves in the Treasury market for clues on the fate of one of this year’s most successful plays - the so-called reflation trade that helped power shares of economically sensitive companies higher after nearly a decade of underperformance. Investors piled in to shares of energy producers, banks and other companies expected to benefit from a powerful economic rebound earlier this year while betting that Treasury yields, which move inversely to prices, would rise. That trade appears to be tottering now, as worries over slowing growth send yields tumbling to their lowest level in more than four months. While stock markets appear placid, with the S&P 500 hovering near a record high, a rotation beneath the surface has accelerated in recent weeks, as investors move out of economically sensitive names and back in to the big technology and growth stocks that led markets higher for most of the last decade. "If we do see a further drop in interest rates, if we do get below that 1.3% level in any kind of meaningful way, that is going to confirm that growth over value has returned and it is not just a head fake," said Matt Maley, chief market strategist at Miller Tabak. The S&P 500 has gained 7% since the 10-year Treasury yield hit a recent high in mid-May. A look under the hood, however, shows signs that a change in stock-market leadership may be taking place. The Russell 1000 growth index has gained over 13% since mid-May while the counterpart value index has climbed about 1.5% over the same time. "We do not expect the reflation and rotation trades to return to their former glory," while materials and energy stocks will likely be held back by falling commodity prices, noted Oliver Allen, markets economist at Capital Economics, in a note to clients. "The big boost to rotation from recovering risk appetite and rising growth expectations may mostly be over," he said. U.S. value vs growth stocks in 2021 https://graphics.reuters.com/USA-STOCKS/VALUE/xklvyxjlkpg/chart.png Concerns about the economic impact of the Delta variant of the coronavirus and falling commodity prices are helping push bond prices higher. At the same time, the Federal Reserve surprised many investors last month with a hawkish turn that suggested two interest rate hikes by 2023, calling into question its commitment to allowing inflation to run hot for a time. One key question for investors is whether recent signs of rising inflation - including the latest data on existing home prices, which showed them rising by their fastest pace in 15 years in April - will be short-lived. Federal Reserve officials last month felt further progress on the U.S. economic recovery "was generally seen as not having yet been met," but agreed they should be poised to act if inflation or other risks materialized, minutes of the central bank's June policy meeting showed. "The market going into the last FOMC meeting assumed that the Fed was comfortable with an inflation overshoot, but it became clear that the magnitude of how comfortable they were with an overshoot came down considerably," said Mike Sewell, a portfolio manager T Rowe Price, who expects that the 10-year Treasury has already hit its highest level for the year. Stocks’ relative calm does not mean that equity investors are impervious to growth worries. BlackRock Inc (NYSE:BLK), the world's largest asset manager, said on Wednesday in its mid-year investment outlook that it cut its position in U.S. equities to neutral, in part due to expectations that corporate profit margins will decrease. Meanwhile, a client survey from JP Morgan showed net bearish bets against Treasuries falling to their lowest level since late April in the week to July 6, while bullish positions stood at their highest since late March, suggesting there may be limited fuel for more downside moves in yield. "It will be interesting to see how positioning unfolds to see if there is enough of a washout to make the market cleaner and just more driven by fundamentals,” said Chuck Tomes, associate portfolio manager on the global multi-sector fixed income team at Manulife Investment Management. By David Randall and Lewis Krauskopf, (Reuters). Investing.com Date: 8th July, 2021

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Dollar Down as Investors Await Fed Minutes The dollar was down on Wednesday morning in Asia ahead of the U.S. Federal Reserve’s release of the minutes from its latest meeting. The euro, meanwhile, fell to an almost three-month low against the greenback as German economic data disappointed and raised concerns about the country’s economic recovery from COVID-19. The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.01% to 92.532 by 11:41 PM ET (3:41 AM GMT). The USD/JPY pair held steady at 110.61. The AUD/USD pair inched down 0.07% to 0.7491 while the NZD/USD pair inched up 0.06% to 0.7015. The USD/CNY pair inched down 0.06% to 6.4714 and the GBP/USD pair inched down 0.01% to 1.3798. The euro traded at $1.1820, after hitting a three-month low of $1.1806 during the previous session. It also fell against the yen to 130.81 yen, close to a two-month low of 130.05 hit on Jun. 21. Data released on Tuesday said that the German Zentrum für Europäische Wirtschaftsforschung (ZEW) economic sentiment index fell sharply to 63.3, below the 75.2 in forecasts prepared by Investing.com and June’s 79.8 figure. Separate data also said that German factory orders contracted 3.7% month-on-month in May, against the 1% growth in forecasts prepared by Investing.com and April’s 1.2% growth. Meanwhile, the ongoing production dispute among the members of the Organization of the Petroleum Exporting Countries and allies (OPEC+) that caused a plunge in prices dampened sentiment for other risk-sensitive currencies. The Australian dollar also gave up its gains from Tuesday as investors digested the Reserve Bank of Australia (RBA)’s policy decision handed down that day. In its first step towards asset tapering, the RBA announced a smaller, third round of its quantitative easing program and retained the April 2024 bond for its three-year yield target of 0.1%. The interest rate remained unchanged at 0.1%. In the U.S., yields recently took a tumble after investors who had bet that the Fed would tighten its monetary policy sooner than expected thanks to rising inflation were forced to bail out of their positions. The minutes from the Fed’s June 2021 meeting, to be released later in the day, are widely expected to offer clues to the central’s bank’s policy outlook moving forward. However, some investors said that the clues are already there. “Many people seem to think the Fed will drop hints on tapering in August, and will say in September that it is considered, and it will be implemented in December. But I believe the Fed could move earlier than those timelines,” Sumitomo Mitsui (NYSE:SMFG) Bank chief strategist Daisuke Uno told Reuters. “The important point is, the Fed did already raise their inflation forecast,” Uno added. By Gina Lee, 7th July 2021. Investing.com