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ArvinIG

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  1. Hi @plonks, I am following up with the Corporate Action for an answer. Thank you - Arvin
  2. Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 11th July 2022. These are projected dividends and likely to change. IG cannot be held responsible for any changes made. Dividends highlighted in red include a special dividend, therefore some or all of the amount will not be adjusted. Amount in brackets is the expected adjustment after special dividends excluded (where shown on major indices). Dividend adjustments due to be posted on a bank holiday will usually be posted on the previous working day. If you have any queries or questions on this please let us know in the comments section below. For further information regarding dividend adjustments, and how they affect your positions, please take a look at the video. NB: All dividend adjustments are forecasts and therefore speculative.A dividend adjustment is a cash neutral adjustment on your account. Special Dividends Index Bloomberg Code Effective Date Summary Dividend Amount N/A Special Div How do dividend adjustments work? This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
  3. Hi @AidanMcCullough, Thank you for post. This ETF does not have a Key Information Document, therefore we are unable to open new positions with that ETF, it is on closing only. Regulation (EU) No 1286/2014 (the PRIIPs) regulation states that all retail clients must be provided with a Key Information Document (KID) prior to the purchase on any security (PRIIP) within the scope of the regulation I hope that it helps - Arvin
  4. BRITISH POUND KEY POINTS: GBP/USD rises after UK Prime Minister Boris Johnson announces his resignation Although political uncertainty may cause volatility from time to time, it is unlikely to become the main driver of sterling in the short term The Bank of England's monetary policy and the UK macroeconomic outlook should be more relevant for the pound during the second half of the year Most Read: US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY The British Pound traded moderately higher against the U.S. dollar on Thursday, up about 0.65% to 1.2000, despite heightened political uncertainty in the UK after Boris Johnson announced his resignation as Prime Minister following several scandals that plagued his administration over the past few months. Traders and investors had already anticipated this move after dozens of senior ministers stepped down in recent days in protest over Johnson's leadership and his handling of allegations of misconduct against a prominent ally, so the formal announcement did not spark FX turbulence. While the process of selecting the next head of government may trigger volatility from time to time, it will not be the main driver of sterling. It is true that a new prime minister could open the door to some fiscal stimulus in the form of tax cuts later in the year and pave the way for a more aggressive central bank, but this will be a theme for the fall.The new resident of 10 Downing Street could also adopt a less confrontational stance toward the European Union, creating a more favorable environment for sterling; but again, there are too many unknowns at this point to draw any major conclusions. Looking ahead, growing headwinds on the macro front for the UK and monetary policy divergence between the Fed and BoE will continue to be the main price action catalysts in the foreign exchange market. To provide context, UK activity is decelerating rapidly, raising the probability of a recession in 2023. Recognizing these risks, policymakers have kept a “steady-handed approach”, raising borrowing costs in small increments to avoid adding unneeded stress to an economy at the brink of a cliff. With annual CPI on its way to exceed 11% in the fall, BoE may temporarily abandon its cautious stance and raise interest rates by half a percentage point to 1.75% at its August meeting, but this will likely be a one-off measure before returning to the standard 25 bps hike. The Federal Reserve, for its part, has retained a hawkish bias, signaling a rapid tightening path to restore price stability. While Wall Street doubts that the Fed will stick to its plans to remove accommodation forcefully, the institution has shown no willingness to pivot; in fact, the June FOMC minutes revealed that a more restrictive stance may be appropriate if elevated inflationary pressures were to persist. In the current environment, the U.S. dollar should remain supported against the pound. This means that the path of least resistance for GBP/USD is lower, at least from a fundamental standpoint. The outlook could change, especially if the Fed blinks, but we don't yet have strong evidence to suggest that will happen soon. GBP/USD TECHNICAL ANALYSIS After hitting a multiyear low near 1.1875 yesterday, GBP/USD has staged a moderate rebound, guided higher by a short-term rising trendline, as shown in the 30-minutes chart below. If cable continues its trek upwards, initial resistance appears at 1.2022, the 50% Fibonacci retracement of the July high/July low move. On further strength, the focus shifts to 1.2056, followed by 1.2085/1.2090 and then 1.2125. On the flip side, if sellers return and push prices lower, trendline support comes around 1.1960. If this floor were to be breached, GBP/USD could be on its way to retest its 2022 lows. GBP/USD TECHNICAL CHART GBP/USD Chart Prepared Using TradingView EDUCATION TOOLS FOR TRADERS Are you just getting started? Download the beginners’ guide for FX traders Would you like to know more about your trading personality? Take the DailyFX quiz and find out IG's client positioning data provides valuable information on market sentiment. Get your free guide on how to use this powerful trading indicator here. Diego Colman, Market Strategist for DailyFX 08 July 2022
  5. CRUDE OIL PRICE TALKING POINTS The price of oil appears to be reversing course head of the 200-Day SMA ($92.62) as it holds above the April low ($92.93), and crude may stage a larger rebound over the coming days as US production holds steady at the start of July. CRUDE OIL PRICE REBOUND EMERGES AS US OUTPUT HOLDS STEADY COMING INTO JULY The price of oil extends the rebound from the weekly low ($95.10) even as US inventories unexpectedly increase for the first time in three weeks, and crude may attempt to retrace the decline from the monthly high ($111.45) as the Relative Strength Index (RSI) bounces back ahead of oversold territory. However, indications of slowing consumption may produce headwinds for crude as US inventories jump 8.235M in the week ending July 1 versus forecasts for a 1.043M decline, and current market conditions may keep a lid on crude prices as the Organization of Petroleum Exporting Countries (OPEC) plan to “adjust upward the monthly overall production for the month of August 2022 by 0.648 mb/d.” It remains to be seen if OPEC will retain the current production schedule over the remainder of the year amid the weakening outlook for demand, and developments coming out of the US may influence crude prices as the recent rise in oil output appears to be stalling. A deeper look at the figures from the Energy Information Administration (EIA) show weekly field production printing at 12,100K for the second week, and signs of limited supply may lead to a near-term rebound in the price of oil as it appears to be reversing course head of the 200-Day SMA ($92.62). With that said, failure to test the April low ($92.93) may keep the price of oil within a defined range ahead of the next OPEC Ministerial Meeting on August 3, and crude may attempt to retrace the decline from the monthly high ($111.45) as the Relative Strength Index (RSI) bounces back ahead of oversold territory. CRUDE OIL PRICE DAILY CHART Source: Trading View The price of oil appears to be reversing course ahead of the 200-Day SMA ($92.62) amid the failed attempt to break/close below the Fibonacci overlap around $93.50 (61.8% retracement) to $95.30 (23.6% expansion), and crude may stage a larger rebound as long as it holds above the April low ($92.93). The Relative Strength Index (RSI) highlights a similar dynamic as it bounces back ahead of oversold territory, but need a close above the $104.20 (50% expansion) region to bring the $108.10 (61.8% expansion) area back on the radar. A move above the 50-Day SMA ($110.10) may push the price of oil towards the monthly high ($11.45), with the next area of interest coming in around $112.80 (161.8% expansion) to $113.70 (78.6% expansion). However, failure to close above the $104.20 (50% expansion) region may keep the price of oil within a defined range as the 50-Day SMA ($110.10) no longer reflects a positive slope, with a move below $100.20 (38.2% expansion) raising the scope for another run at the overlap around $93.50 (61.8% retracement) to $95.30 (23.6% expansion). David Song, Currency Strategist, DailyFX Follow me on Twitter at @DavidJSong 08 July 2022
  6. US dollar’s Q2 2022 performance was the best since Q4 2016; Fed policy inflation gap hints USD may still have room to rise and DXY dollar index confirmed critical breakout above resistance. Source: Bloomberg Forex Commodities United States dollar Inflation Central bank Federal Reserve Does the US dollar have more space to rally after such consistent gains? The US dollar has continued rallying against its major peers as of late. The DXY dollar Index, which does lean heavily on the euro, continues to set new highs this year. In fact, the second quarter saw DXY rally 6.5%, the most since the fourth quarter of 2016. Is there more room for the Greenback to rally in the days and weeks ahead? Perhaps so. Lately, a combination of weaker economic growth prospects in Europe and a turnaround in commodity prices have been aiding the Greenback’s ascent. The past few weeks have seen the markets price out how much the European Central Bank might be able to tighten by the end of this year amid the Ukraine War and dismal PMI prints. That has brought down German front-end government bond yields. This is as fading global growth prospects have been dragging down the commodity and sentiment-linked currencies amid near-unison monetary tightening from developed central banks. These include the Australian, New Zealand and Canadian dollars. CAD has been particularly hurt by the latest turnaround in crude oil prices, with WTI risk in the third quarter. What about the US dollar? By looking at inflation and Federal Reserve interest rate expectations in one year, we can use the gap to see where the USD may go. This is displayed in the chart below. In one year, the US breakeven rate is showing inflation at 3.75%. Meanwhile, forward curves imply a Fed that is at 3.30%. That means that there is 45-basis points left before the central bank closes the gap on inflation. Since March, the gap has been narrowing, and the DXY Index has been rallying. It should be noted that this gap is at its lowest point yet this year, meaning that the Fed has almost caught up with inflation expectations. Once the central bank closes the gap, the question will then turn to if the central bank needs to cut rates to bring inflation down to its 2% average price target. DXY dollar index technical analysis The DXY dollar index recently confirmed a breakout above the June high of 105.788. That has opened the door to extending gains, exposing the 61.7% Fibonacci extension at 107.45. The dollar’s ascent lately has been feeling exponential, evidenced by the red-dashed curve in the chart below. Breaking under it could be a sign of weakness, placing the focus on the 50-day Simple Moving Average. Otherwise, further gains place the focus on the 78.6% and 100% extensions at 109.13 and 111.26 respectively. US dollar daily chart Source: TradingView Daniel Dubrovsky | Currency Analyst, DailyFX, San Francisco 07 July 2022 This information has been prepared by DailyFX, the partner site of IG offering leading forex news and analysis. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
  7. The British pound attempts recovery after breaking June low; oil prices see no relief as global recession fears solidify and GBP/USD bulls need to recapture June low for reversal hopes. Source: Bloomberg Forex United States dollar Pound sterling GBP/USD United States Australia Thursday’s Asia-Pacific outlook Asia Pacific markets face a mixed open after stocks on Wall Street closed mostly higher, and the US dollar rose. The Federal Reserve's latest meeting minutes crossed the wires, showing that the FOMC remains committed to tackling inflation. The latest US economic data showed signs that inflation might indeed be easing, with the ISM’s PMI data for June showing that prices paid by firms have decreased, albeit only slightly. Across the pond, in the United Kingdom, Prime Minister Boris Johnson’s position in Her Majesty’s Government weakened further after another round of resignations, this time among more junior cabinet members. The British pound traded at its lowest level since March 2020 against the US dollar. For now, Mr. Johnson’s fate is uncertain as rules would have to be changed to call another no-confidence vote, and there has been no indication so far that resignation is forthcoming. The Australian dollar and New Zealand dollar also fell victim to the stronger dollar, with NZD/USD and AUD/USD trimming nearly 0.5% overnight. A staggering fall in commodity prices has pained the two currencies in recent weeks. This morning, Australia’s Ai Group Services Index for June fell to 48.8 from 49.2 in the prior month. Iron ore prices fell around 1% during US trading hours. Oil prices fell again across the WTI and Brent benchmarks, with prices now below $100 per barrel as recession fears drag on demand expectations. Banks and analysts are starting to drop their year-end targets for the commodity after this week’s big drop, reversing lofty expectations for higher prices just a few weeks ago. Meanwhile, in Beijing, China, authorities are restricting access to many public venues to only those who are vaccinated. Notable Events for July 7: Japan – Foreign Bond Investment (02/JUL) Philippines – Unemployment Rate (MAY) Australia – Balance of Trade (MAY) GBP/USD technical forecast GBP/USD remains below its June swing low, but prices appear to be attempting to rebound, although modestly. The recent weakness following a break below Pennant support may continue if bulls can’t recapture that level. The RSI and MACD oscillators are negative, and technically, the cross looks primed for more weakness ahead. GBP/USD 8-hour chart Source: TradingView Thomas Westwater | Analyst, DailyFX, New York City 07 July 2022 15:02 This information has been prepared by DailyFX, the partner site of IG offering leading forex news and analysis. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
  8. Hi @M4an1_l, You can reply to that email asking for further information from the Corporate Action team on your options. Make sure that you reach out to them before the deadline. All the best - Arvin
  9. Hi @Vayor, Thank you for you post. We appreciate your feedback. It will be forwarded to the relevant department to be reviewed. IG is always looking for ways to offer the most instruments and markets in the best possible way. All the best - Arvin
  10. Hi @Blunders, Thank you for your message. It seems that a credit of AUD 7.02 , the corporate action team was advised that the company cancelled the dividend, therefore that amount was debited. I hope that it helps ! If you need further information feel free to reach out to helpdesk.au@ig.com All the best - Arvin
  11. Hi @tokeeffe2022, There is an application opened under @tokeeffe. You should be able to login with this email and continue your application. You can follow up on this application by reaching out to newaccountenquiries.uk@ig.com. The IT ticket number is: INC0643717 for your reference. Thank you - Arvin
  12. Hi @closeaccount, Thank you for your post. You will need to wait for the company to make decision on their shares. If their shares are not trading on the exchange we won't be able to sell your shares, unless they trade OTC, you will need to call in and see if the dealing desk can sell the shares. You can find more information here: https://www.ig.com/uk/help-and-support/corporate-events-and-dealing/corporate-action-events/what-happens-if-the-stock-i-am-trading-delists If the stock has been declared as worthless then it can be closed at 0. In regards of your account, where the fund deposit made from your card or bank account or your partner's? IG does not accept Third-party funding. The funds needs to come a source under your name and you should trade for yourself not someone else unless you have a power of attorney. Feel free to reach out to helpdesk.uk@ig.com, our team will be able to assist you verifying the source of the funds and selling your shares. Thank you - Arvin
  13. Following the RBA’s cash rate increase for the third straight month, we look at the ASX200, AUD/USD and Brent crude oil. Source: Bloomberg Forex Indices Commodities Petroleum Inflation Australian dollar This week the Reserve Bank of Australia (RBA) increased its cash rate by 50 basis points (bps) to 1.35%, back to its highest level since May 2019. Moreover, RBA signalled that more interest rate hikes are on the way as inflation is expected to increase further throughout the year's second half. Meanwhile, the US equity markets reopened after Independence Day to enjoy a modest gain as an early sign of easing inflation pressure ignited by the China-US tariff talk and plunging energy prices. Today we look at three markets: ASX Last week the ASX closed the book for the 21/22 financial year with the worst monthly decline since March 2020. Overall, the ASX dropped 12% during the year's first six months. Every year has its challenges and the past 12 months have been especially rough as we continue to fight Covid for the third year. The strong headwind of inflation has caught most central banks off guard and when combined with the war in Ukraine that commenced in late February, energy prices have increased to a level that hasn't been seen for decades. Moving ahead, it's almost certain that most of the headwinds from the first half of the year will stay to generate more volatilities and unknowns will unfold. The ASX concluded the post-RBA session with a 0.25% gain on Tuesday. However, the candlestick still failed to break through the 20-day moving average, suggesting the short-term momentum is yet to revert. The cross so far briefly shot up to 6584 with support from the mid-term trend line and slips may find support near the May trough at 6540. On the other hand, should the price manage to stand above the 20-day MA in the next couple of days, the price target is looking at 6640. Daily chart Source: IG AUD/USD The Australian dollar rallied before the RBA meeting on Tuesday but then lost all the gains against the greenback after the announcement. The Reserve Bank of Australia tightened monetary policy for the third straight month, even though the central bank sounds optimistic to control the decade-high inflation. Furthermore, commodities continue to be crushed as concerns deepen about the slowing economies and under this momentum, the Australian dollar is poised to continue suffering the downturn pressure. The Australian dollar has now pulled back to its two-year low level and current support can be found at $0.6789, which, if broken, will bring the next support at 0.6716 into view. On the flip side, any rebound attempt will face the challenge from the 20-day moving average, around 0.6890. Daily chart Source: IG Brent crude Oil plummeted by nearly 10% this week as concerns heightened over the global recession curtailing demand and as a result, oil prices have plunged below $100 a barrel for the first time since early May. While Saudi Arabia lifted the August price for its flagship crude grade to Asia by $2.80 per barrel, the price of Brent and WTI crude fell sharply as the renewed recession fears outpaced the previous supply concern. From a technical viewpoint, the price for Brent crude has pulled back to its level in May and a clear breakout from the trend line suggests the downturn spiral will be at play. Current support sits at $106, while the next support level at $103 is in prospect. Daily chart Source: IG Hebe Chen | Market Analyst, Melbourne 06 July 2022 Take your position on over 13,000 local and international shares via CFDs or share trading – and trade it all seamlessly from the one account. Learn more about share CFDs or shares trading with us, or open an account to get started today.
  14. The RBA are in the thick of their inflation fight, again hiking by 0.5%; the AUD/USD went lower in the aftermath, while the ASX 200 got a small lift and the RBA have more hikes in mind so will AUD/USD be the beneficiary? Source: Bloomberg Forex Indices Australian dollar Inflation AUD/USD Consumer price index The Australian dollar headed south after the RBA further confirmed their alliance with other global central banks on a robust tightening regime. The bank lifted the cash rate by 50 basis points to 1.35% from 0.85%. This is the first time that the bank has raised rates by 50 basis points at consecutive meetings. The statement proceeding the decision highlighted the global supply chains issues and they expect inflation to peak later this year and then return to their target in 2024. The statement concluded with, “The Board is committed to doing what is necessary to ensure that inflation in Australia returns to target over time.” Australia’s ASX 200 equity index found some support in reaction to the news. The three-year Commonwealth Australian Government bond yield went 8 basis points lower to 2.95% immediately after the announcement. Going into the meeting, AUD/USD and the ASX 200 had found support to start the week after a sell off to end last week on the back of negative risk appetite permeating markets. Globally, there is a conundrum for central banks of weighing the recession risk versus inflation containment. Australia might be in a comparatively unique position. In the week leading up to today’s meeting, Australia’s second tier economic data releases have been strong and all of them surprised to the upside. Retail sales, job ads and vacancies, private sector credit growth, home loans and building approvals all beat expectations. Before all that data was available, RBA Governor Philip Lowe had already sounded the alarm bell on inflation and the cash rate. CPI is anticipated by the bank to be around 7% by December and the cash rate could be at 2.5%. Source: ABS Second quarter 2021 CPI was 0.8% and this number will drop off the CPI reading that is due out 27th July. First quarter 2022 CPI was 2.1%. The first three months of the year only includes one-month of the massive surge in commodity prices, notably energy and food. The largest increases in production costs were yet to be fully passed through to the consumer. If we assume that second quarter 2022 CPI comes in at the same rate as the first quarter (2.1%), that will give us annual read of 6.3%. Looking at the extraordinary rise in energy, food and building materials over the second quarter of this year, there is a strong chance of much higher number. If CPI prints above 7% in July, the RBA might continue with a jumbo hike at their next meeting on Tuesday 2nd August. Whether or not this translates into higher AUD/USD remains to be scene and global machinations will continue to impact the Aussie. If AUD/USD continues to languish, then this will further stimulate the domestic economy with the trade balance continuing to add circa AUD 10 billion each month. Source: TradingView Daniel McCarthy | Strategist 05 July 2022 This information has been prepared by DailyFX, the partner site of IG offering leading forex news and analysis. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
  15. Woodside Energy concluded June with a 7.3% gain while the ASX 200 was down by more than 12%; CBA shares tumbled to a 13-month low and BrainChip dropped 30% in June. Source: Bloomberg Indices Shares ASX Interest rate Woodside Petroleum Australia's share market crossed the finish line after a grim June and quarter with negative numbers, marking it the worst month since March 2020. During the past six months, the ASX 200 was down by more than 12% and although there is no reset button, the beleaguered equity market does bring renewed hope. Market participants expect the central banks to change their hawkish stance once the economy has shown convincing signs of cooling down. As for the week ahead, the RBA will again lead the decision-making to lift the interest rate for the third straight month. Today we look at three stocks: Woodside Energy For the ASX 200, the energy sector is unlikely to conclude June with a gain amid fluctuating oil prices, the falling value of coal, and the spreading of the energy crisis. That beinf said, the major players in the ASX energy sector delivered mixed performances led by Woodside Energy Group with a 7.3% gain while Santos moved down by 8.6%. Woodside Energy is now the biggest energy share on the ASX after the company completed its merger with BHP’s petroleum business in early June. The goodwill following the merger has helped Woodside to shelter from the headwinds and deliver a beat to the market. Major support for the price can be found from the month-long ascending trend line which sees the price stabilise at around $31. Resistance should come from the 50 and 100-day moving average between $31.5 to $32. However, once broken through this level, investors can expect upside movement toward the 20-day moving average. Daily chart Source: IG Commonwealth Bank of Australia The rapid changing interest rate has placed the banks on high alert and the central stage. The Commonwealth Bank of Australia's share price fell by more than 13% in June and last week announced to lift its fixed home loan by a jaw-dropping 1.4% in one go. What's more, the interest rate is expected to keep edging up. On the other hand, the property market is cooling and a higher interest rate will help the bank's margin and profit. However, the accelerated slowdown in the home loan market could lead to a greater number of loan losses and a shrink in the market size. The price of the CBA is currently trading at its lowest level in 13 months. The high from last February and March can be considered as key support for now at around $89 and the steep 20-day moving average is set to limit the high for the rebounds. While the RSI shows a pull back from the oversold territory, massive selling pressure is expected from the level of $93. Daily chart Source: IG BrainChip BrainChip is a developer company for AI computer chips and the recent star company had a turbulent month as its share price ended the month 30% lower amid the broad ASX200 market which was down 9%. The steep decline of BrainChip’s share price can be attributed to the external market sentiment rather than the company’s performance and this was particularly the case in the risk-off market where BrainChip sits. However, the risk ahead can’t be ignored with the global chip producer being under the whammy recently after the semiconductor maker warned that demand is falling and sales will be lower in the current quarter. As such, global chip leaders like Nvidia and AMD are being hit particularly hard as the concern about entering the recession cycle increases. BrainChip has seen its share price increase substantially from a value of $0.04 in 2020 to 9.49% in early 2022. As shown from the daily chart, the price is moving along the descending trend line since early June and the price has found its support at 0.783 at the moment. A bounce from this level brings the price to the trend line resistance at 0.855 which is also where the 20-day moving average sits. Moving forward, should the price manage to succeed in a breakout, buyers can anticipate a short-term rebound to the level of $1. On the flip side, the breach of current support may erase all gains for 2022. Daily chart Source: IG Hebe Chen | Market Analyst, Melbourne 05 July 2022 Take your position on over 13,000 local and international shares via CFDs or share trading – and trade it all seamlessly from the one account. Learn more about share CFDs or shares trading with us, or open an account to get started today.
  16. HI @N9760, Thank you for your post and feedback. I will forward you feedback to the relevant team. Effectively at this time some features are available are available on certain platform and not others, for example renaming the watchlist as you mentioned. Thank you - Arvin
  17. Hi @trotter, Once one the app and the chart, if you tap once you will find the interval setting at the bottom of the screen. Thank you - Arvin
  18. Hi @trotter, You can find the list of shares and ETF on this list : Stockbroking Share List.pdf (marketdatasystems.com) You can also use the ETF Screener: ETF Screener | Exchange Traded Funds Screener | IG I will forward your feedback on providing information on available ISA stocks. Thank you - Arvin
  19. Hi @SURI, Thank you for your post, could you please clarify which statements you are after? If you are after the 2021-2022 share dealing statements they are not out yet. Be aware that you only receive end of financial year tax statement if you received dividends within that year. Share with us what you after, we will be able to assist you further. Thank you - Arvin
  20. AUD/USD appears vulnerable as the US dollar remains strong; the move lower arrives just before a crucial RBA meeting that could add volatility and if bearish momentum continues to unfold, how low will AUD/USD go? Source: Bloomberg Forex Shares AUD/USD Market sentiment Price Investment The Australian dollar made a two-year low to end last week as bearish momentum appeared to pick up steam. A bearish triple moving average (TMA) formation requires the price to be below the short term simple moving average (SMA), the latter to be below the medium term SMA and the medium term SMA to be below the long term SMA. All SMAs also need to have a negative gradient. Looking at the 10-, 21-, 55-, 100- and 200-day SMAs, AUD/USD met the criteria for a bearish TMA in the middle of June. It may signal that bearish momentum could continue to evolve. If the price moves back above the 10-day SMA, the TMA will no longer be valid. Support may lie at Friday’s low of 0.6764. The previous lows 0.6829 and 0.6850 might offer break point resistance. The RBA monetary policy committee meeting on Tuesday might provide event risk volatility opportunities. The market is anticipating a 50 basis points (bps) hike and anything other than that could see a significant move. If they hike by less than 50 bps it could see the support levels tested and a break below them might see a continued run lower. Conversely, a hike by more than 50 bps might see resistance levels challenged and if they are overcome, we may have seen the low for the medium-term last week. AUD/USD daily chart Source: TradingView AUD/USD weekly chart Last week’s push lower stopped just above the 50% Fibonacci Retracement level at 0.6758 to make a low of 0.6764. This Fibonacci level may continue to provide support. The bigger picture highlights that since the February 2021 peak of 0.8007, the price has made lower highs and lower lows, revealing descending trend lines above and below the price. The lower trend line that currently dissects the price at 0.6748 is under threat and a break there could indicate further bearishness is unfolding. Source: TradingView Daniel McCarthy | Strategist 04 July 2022 This information has been prepared by DailyFX, the partner site of IG offering leading forex news and analysis. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
  21. Hi @Cedric, Thank you for your post. By Depo do you mean the margin requirement? The maintenance margin, also known as variation margin, is extra money that we might need to request from you if your position moves against you. Its purpose is to ensure you have enough money in your account to fund the present value of the position at all times – covering any running losses. https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/margin/what-is-margin Let us know if you meant something else we will be able to assist you. Thank you - Arvin
  22. Hi @larryp, For Australia the Tax statement should be ready by end of July. If you received complex dividends, it will take longer before being ready. Thank you - Arvin
  23. Dear IG Community, Please find below the changes of trading hours for Independence Day holiday (US) All times are UK Time and Central Time Monday 4th July Brent Crude and Gas Oil futures close early at 6.30pm (12.30pm CT). US index futures close early at 6pm (12pm CT). We’ll make an out-of-hours price on Wall Street, US 500, US Russell 2000, FANG Index and US Tech 100 from 6pm (12pm CT) until futures reopen at 11pm (5pm CT). US equities and soft commodities are closed. US interest rates close early at 6pm (12pm CT). US energies and metals close early at 7.30pm (1.30pm CT). The VIX closes early at 4.30pm (10.30am CT). Thank you - Arvin
  24. The S&P 500 has plunged as much as 25% from its January’s peak, with a recent relief rally once again proving to be short-lived. Source: Bloomberg Indices S&P 500 Valuation Risk Inflation Market liquidity Brief overview The S&P 500 has plunged as much as 25% from its January’s peak, with a recent relief rally once again proving to be short-lived. As tightening of liquidity conditions continue, markets appear to have shifted from pricing for inflation risks to pricing for growth risks. This may be reflected with the continued fall in US breakeven inflation (hence, nominal Treasury yields), while commodities prices are also coming under some downward pressure. The Bloomberg Commodity Index is down close to 12% over the past month. What’s ahead for the S&P 500 in July? Volatility is set to persist into the month of July, as we look towards the several upcoming key risk events. 1) Second-quarter earnings season The second-quarter earnings season will seek to provide a real test for companies. The positive correlation between S&P 500’s performance and its 12-month earnings per share (EPS) suggests that markets are already pricing for a decline in corporate earnings over the coming quarters. The still-elevated oil prices during the period measured will pose as a challenge to firms’ margins, while tighter liquidity conditions translate to a slower-growth environment. This may suggest that the risks of further re-rating in valuation and downgrades remains present at the moment. For quarter two (Q2) 2022, the estimated earnings growth rate for the S&P 500 stands at 4.3%, marking the lowest earnings growth rate reported by the index since quarter four (Q4) 2020. Source: Nasdaq 2) July’s FOMC meeting The next Federal Open Market Committee (FOMC) meeting will take place on 26 – 27 July 2022, with the upcoming meeting largely guided to be a selection between a 50 or a 75 basis-point (bp) hike. The Fed Fund futures suggests that market expectations are currently leaning towards the hawkish end of a 75 bp increase. Much may depend on how the Fed brings across its forward guidance because if the central bank is able to assure markets that the path of rate hikes will tone down from September onwards, markets may potentially look beyond the aggressive 75 bp hike enacted in July and seek for a relief rally. Where is S&P 500’s valuation at? While the 25% sell-off in the S&P 500 year-till-date has driven a downward revision in valuation, its price-to-sales ratio still hovers above its peak during the dot-com bubble period. Therefore, it may be difficult to say that overall valuation is ‘cheap’ after the heavy sell-off. The upcoming earnings season will provide a test for corporate earnings, where companies may face a daunting hurdle in having to defend its valuation amid higher cost pressures and slower demand. Amid the current risk-off environment, companies may have to outperform on all fronts such as delivering stable margins, earnings resilience and positive forward guidance in order to lift market confidence in taking on more risks for the longer term. Source: Nasdaq What’s next for the S&P 500? The S&P 500 has been trading within a series of lower highs and lower lows since the start of the year, with the formation of a new lower high this week reinforcing the ongoing downward trend. A head-and-shoulder formation seems to be in place as well and the completion of the pattern points to the 3,500 level as a point where some dip buying sentiments may surface. The 3,500 level is measured by extending the distance between the head and the neckline onto the point of breakdown of its neckline. This level also marks a confluence of support, where a key 50% Fibonacci retracement rests in place, if drawn from its Covid-19 bottom to the stimulus-induced record peak at the start of the year. Source: IG charts Yeap Jun Rong | Market Strategist, Singapore 01 July 2022
  25. Hi @Farra13, Thank you for your post. Our Corporate action advised that it will reflect after the pay date. There are still waiting on the Pay date to be determined. Thank you - Arvin
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