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ArvinIG

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  1. Hi @parthivhardpress1, Thank you for your post. You can reach out to webapisupport@ig.com for support on APIs. Thank you - Arvin
  2. Hi @Sartois, Thank you for your post. I submitted your request to the relevant team. Thanks - Arvin
  3. With the war, threat of recession and hawkish European Central Bank, we look at how to trade Germany’s benchmark index, the DAX 40, in current conditions. Source: Bloomberg Indices DAX Price Moving average Trend following Spinal muscular atrophy DAX 40: what the moving averages are suggesting Source: ProRealTime The price of the DAX 40 continues to trade below the 200 day simple moving average (SMA) - the blue line - suggesting that the longer term trend bias remains down for the time being. The price has, however, been whipsawing back and forth through the 20- and 50-day SMAs (red and green lines on the chart, respectively). While the price trades below these moving averages (a negative signal), the 20-MA trades above the 50-MA (a positive signal). These are conflicting signals suggestive that the short- to medium-term trend for the index is sideways at present, rather than truly directional. DAX 40 – price action Source: ProRealTime The DAX 40 has broken below support at 14300. The downside break now sees 13850 and 13690 respectively as lower support target considerations. In line with our short- to medium-term trend assumptions from the moving averages, we think that the price is now in a broad consolidation between levels 13300 (support) and 14820 (resistance). For a reversal of the longer term downtrend, we need to see the price breaking above the 14820 resistance level (confirming this move with a close above). A break below 13300 would suggest that the longer term downtrend is continuing, although the major low at 12360 would need to be broken for a technical affirmation of this. How to trade the DAX 40 Our preference for the DAX has moved towards range trading over the short- to medium-term. We are looking to enter long or short positions on reversals off levels within the broader 13300 to 14820 range, exiting trades to limits on levels within this range as well. We are not looking at trend following and riding out winners whilst this market is within a broad consolidation (at least while trading on a daily timeframe chart). Only if we see a break of major support at 13300 or major resistance at 14820 would we reconsider looking at trend following systems on the daily timeframe once again Shaun Murison | Senior Market Analyst, Johannesburg 10 June 2022
  4. Hi @veerbajaj, Thank you for your post. Could you please contact helpdesk.uk@ig.com with your account details and the Date and Time you noticed the difference? Unfortunately, the compliance team does not have a number. The helpdesk will be able to escalate accordingly. All the best - Arvin
  5. Hi @LaserEye, Thank you for your post. Could you please confirm if the issue has been fixed this morning? Thank you - Arvin
  6. Hi @roeslermatthew4, You can deposit funds with Debit or Credit cards. You can find further information on payments methods here: I hope that it helps ! All the best - Arvin
  7. Hi @ach2022, Thanks for the update, I relayed the information to the IT team. Have you tried on the Google browser by any chance? Thank you - Arvin
  8. Hi All, The IT team said they fixed something on their end. Could you please confirm if you are still facing the issue? Thanks - Arvin
  9. Hi @ray2022, Thank you for your post. Are you using the MT4 IG Demo or Live server? Thanks - Arvin
  10. Hi @CloudStock, I forwarded the above screenshots to the IT team. Could you please click on the >> icon at the top and select network and take a screenshot? Thanks - Arvin
  11. Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 13th June 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. The Juneteenth public holiday is observed on 20th June in the US . Therefore adjustments marked as (*) are to be updated by the end of the week. 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 SPX EOG US 14/06/2022 Special Div 1.8 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.
  12. Crude oil prices are eyeing a topside run toward the March peak; China is easing restrictions that could release pent up demand and price action is looking north but structural issues may stall WTI. Source: Bloomberg Commodities Barrel Oil tanker United States WTI OPEC Crude oil has surged to three-month highs as a number of factors over the last week have tightened the market. This week, the world’s largest importer of the energy, China, eased lockdown restrictions in Beijing and Shanghai. This potential uplift in demand comes at a time of limited supply due to the Ukraine war. OPEC+ upped their targeted quota to 648k barrels per day last week, but the market has reservations that the cartel will be able to meet these increases. Morgan Stanley and Goldman Sachs have re-iterated their forecast of US$150 and US$140 bbl respectively for later this year. As the West continues to escalate embargos of Russian oil exports, this has pushed them toward innovative efforts of distribution. It has been reported by Bloomberg this week that the first mid-Atlantic Ocean ship-to-ship transfer occurred in late May. Russian oil spurred by Europe was sent out in an Aframax tanker (capacity 80k – 120k deadweight tonnes of oil) to meet up with a Supertanker (capacity > 500k tonnes deadweight of oil). It is anticipated that the supertanker will receive a few more loads before heading to its destination, anticipated to be India. Ship-to-ship transfers are not unusual, but they are normally done in safe calm waters, rather than on the high seas. As the sanctions start to bite, mid ocean transfers could become a regular feature of the market. Backwardation remains in play in the oil market, and the move from US$110 bbl to over US$ 120 bbl was pre-empted by a spike in backwardation to over US$3 bbl. Crude oil – WTI, backwardation and volatility Backwardation is when the contract closest to settlement is more expensive than the contract that is settling after the first one. It highlights a willingness by the market to pay more to have immediate delivery, rather than having to wait. Backwardation has eased off in the last few days and could indicate that a push to the March high of US$ 130.50 may not be imminent for now. Potentially offsetting that is the OVX index, a measure of oil volatility. It has remained sanguine toward this run up, which could indicate that the market is getting used to elevated prices. Looking ahead, the U.S. Energy Information Administration (EIA) reports on inventory later today. Source: TradingView Daniel McCarthy | Strategist 08 June 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.
  13. The RBA have made it clear that the inflation fight is on, hiking 0.5%; AUD/USD leapt half a cent on the news, but is struggling to hold the gains and the RBA have joined the race. Will AUD/USD be the beneficiary? Source: TradingView Forex Shares Commodities Australian dollar Inflation AUD/USD The Australian dollar flew higher after the RBA joined the jumbo rate hike brigade by lifting the cash rate by 50 basis points to 0.85% from 0.35%. The market had mostly been oscillating between a move of 25 or 40 basis points (bps), although a small number of observers had anticipated a 50 bp move. Straight after the decision, AUD/USD went from 0.7180 to trade above 0.7240 but later retraced back under 0.7200. The ASX/S&P 200 index sank further to be down 1.7% at the time of going to print. The three-year Commonwealth Australian Government bond yield went 12 basis points higher to 3.28% immediately after the announcement. Speaking about pandemic-inspired loose monetary policy, RBA Governor Philip Lowe said in his statement that 'the resilience of the economy and the higher inflation mean that this extraordinary support is no longer needed.' This could infer that the bank is looking to get policy back to neutral, wherever that may lie. The RBA have plenty of ammunition up their sleeve to justify further rate hikes. The last inflation read was way above their mandate of 2-3% on average over the business cycle for headline CPI. Last week, we saw 1Q quarter-on-quarter GDP come in at 0.8% against forecasts of 0.7% and a previous 3.4%. This made annual GDP to the end of March 3.3% instead of 3.0% anticipated and 4.2% prior. Upward revisions to previous quarters were also revealed. More up-to-date monthly data revealed the trade balance at AUD 10.5 billion for April, against AUD 9 billion anticipated and AUD 9.3 billion previously. The unemployment rate remains at generational lows of 3.9%. Building approvals disappointed though, dipping -2.4% month-on-month in April instead of rising by 2.0% as expected. This was put down to the major flooding event along a large swathe of Australia’s populous east coast. Further support for aggressive hikes came in some second-tier data released on Monday. The Melbourne Institute inflation gauge accelerated to 1.1% month-on-month in May and ANZ job advertisements increased by 0.4% last month compared to April. All this adds up to more hikes from the RBA, but the crucial piece of missing evidence remains CPI. A vital piece of economic data that is only published quarterly rather than monthly. The next read will not be available until 27th July. Nonetheless, even without that knowledge, the case is clear that emergency loose monetary policy is no longer needed and a path back to normalisation is upon us. For AUD/USD though, external factors will continue to sway direction. Central banks globally are raising rates, with the exception of Japan and China. Risk sentiment has been ebbing to mood of several factors. China’s lockdown and the flow on effects for supply chains, the commodity price boom as the Ukraine war continues and US dollar gyrations as the Fed gets their own tightening going. Source: TradingView 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. Daniel McCarthy | Strategist, | Publication date 07 June 2022
  14. The euro could be vulnerable to selling pressure as retail traders increase their long exposure in EUR/USD and EUR/JPY. Source: Bloomberg Forex Shares Euro EUR/USD EUR/JPY Japanese yen The Euro has been consolidating against its major counterparts as of late, could this dynamic change next? It appears that retail traders are starting to increase their upside exposure in the single currency, betting to the upside in pairs like EUR/USD and EUR/JPY. This can be seen by examining IG Client Sentiment (IGCS), which tends to function as a contrarian indicator. Is this a sign of weakness to come for the Euro? For a deeper dive into the fundamentals, check out the webinar recording at the beginning of the article! EUR/USD sentiment outlook - bearish The IGCS gauge shows that about 59% of retail traders are net-long EUR/USD. Since the majority of traders are biased to the upside, this suggests that prices may continue falling. This is as upside exposure increased by 2.83% and 6.80% compared to yesterday and last week respectively. With that in mind, the combination of current and recent changes in sentiment offers a stronger bearish contrarian trading bias. Source: DailyFX EUR/USD technical analysis – daily chart On the daily chart, EUR/USD has been consolidating under the 1.0758 – 1.0806 inflection zone. It seems upside momentum is slowing from the early May bounce, a sign of weakness. A falling trendline from February is also maintaining the downside technical bias. Confirming a breakout under immediate support at 1.0627 could open the door to revisiting lows from 2017 (1.0340 – 1.0388). Otherwise, clearing resistance places the focus on the falling trendline from last year. Source: TradingView EUR/JPY sentiment outlook - bearish The IGCS gauge shows that about 34% of retail traders are net-long EUR/JPY. Since most traders remain biased to the downside, this hints that the pair may continue rising ahead. However, upside positioning has increased by 12.44% and 31.89% versus yesterday and last week respectively. With that in mind, recent changes in sentiment warn that the current price trend may reverse lower. Source: DailyFX EUR/JPY technical analysis – daily chart From a technical standpoint, EUR/JPY remains strongly biased to the upside. The pair confirmed a breakout above the 139.14 – 140.00 resistance zone, exposing the peak from December 2013 at 145.69. But, immediate resistance appears to be the 61.8% Fibonacci extension at 142.30. Breaking above the latter would open the door to revisiting the December 2013 high. Otherwise, a turn lower would place the focus back on the former resistance zone, perhaps establishing itself as new support. Source: TradingView Daniel Dubrovsky | Currency Analyst, DailyFX, San Francisco 08 June 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. Crude oil prices underpinned by strong fundamental tailwinds; inventory data in focus as traders weigh supply and demand and technical posture looks supportive for prices to test March highs. Source: Bloomberg Shares Commodities Petroleum Price of oil Saudi Aramco Inventory Crude oil is little-changed through early Asia-Pacific trade after falling overnight. However, prices remain near the highest levels since 2008. While global production has increased, it has failed to keep pace with demand amid loosening Covid-19 restrictions. Although some predict that high gasoline prices may be tempering demand, consumers appear to be willing to stomach the higher prices so far. Moreover, China has started to roll back Covid restrictions across its major cities that have been under lockdown, to varying degrees, over the last several months. Outside a major resurgence in cases, restrictions across the country should continue to ease, likely fueling demand for crude oil further. Caixin services PMI, released earlier this week, hinted that the economic lull from lockdown restrictions may be ebbing. In the latest bullish sign for oil prices, Saudi Arabia’s state-owned Aramco raised premiums charged for July deliveries to Asia and Europe. The move indicates that Aramco sees the market tightening further into the summer months. Citi Research, meanwhile, raised its price forecasts for oil prices, citing the delay in Iranian oil returning to the market. Hopes ran high earlier this year for a deal between Washington and Tehran, one which would see a gradual return of its oil back into the global market. This week, traders will have their eyes set on inventory data to gauge the ongoing imbalances between supply and demand. Tonight, the American Petroleum Institute (API) is set to release its weekly inventory report. The Energy Information Administration (EIA) will follow with its own report later this week. Analysts expect to see US crude oil stocks fall by 1.8 million barrels for the week ending June 03, according to a Bloomberg survey. A larger-than-expected draw may push prices higher. Crude Oil technical forecast Crude prices are holding near the highest levels traded since March despite a weak start to the week. A trendline from 2021 has largely supported prices during pullbacks, along with the 50-day Simple Moving Average (SMA) to a lesser but still noticeable extent. A breach above the March high just below 130 may invigorate the rally further. Crude oil daily chart Source: TradingView 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. Thomas Westwater | Analyst, DailyFX, New York City 07 June 2022
  16. Pilbara Minerals Limited shares closed 18% lower; Bubs share price was up 77% last week and Microsoft sent out a red flag warning last week, what is the key takeaway? Source: Bloomberg Shares Forex United States Microsoft European Central Bank Risk The global share market has experienced another turbulent week as recession fears swirl, pushing traders to exercise a risk-off and defensive strategy. The ASX kicked off the new week in the red following Wall Street’s sharp decline as a stronger than expected report from US Non-Farm Payrolls suggested the labour market remains resilient for the Federal Reserve to raise rates aggressively. Pilbara minerals The week ahead has the potential to be another volatile time as both the RBA and ECB meetings are set to unfold their new round of monetary policy as well as the US CPI reading for May. Australia's central bank is expected to increase interest rates by 25bps - 40bps on Tuesday’s meeting and the ECB is expected to leave rates unchanged but set the table for a July rate hike. Investors rushed to get rid of their lithium stocks on hand after Goldman Sachs flagged a warning of a 'sharp correction' in lithium prices in the next two years. Based on Goldman’s prediction, the lithium price could fall from US$60,350 per tonne to around US$54,000 per tonne in 2022. Even worse, by 2023, lithium could fall to US$16,372 per tonne. Meanwhile, Credit Suisse has downgraded Pilbara Minerals from 'outperform' to 'neutral' with a renewed price target of AU$3. Alongside a 12% drop in Core Lithium’s share price, Liontown Resources Limited is 16% lower. The price for Pilbara Minerals kicked off the new trading week above last Friday’s high with strong support from the level at $2.352. Further up, the December and March low can be spotted as the next challenges are at $2.522 to $2.58. On the flip side, the price remains under the risk of retreating at the level of $2.26, last seen in November 2021. Source: IG Bubs The Bubs share price has experienced a rough and choppy week. The share price for the baby formula marker was up as much as 77% last Monday, although it has been pulled back substantially from the sky now where the price remained up more than 20% from a week ago. The gain appears to be a bit of an extreme reaction to an announcement by US president Joe Biden that Bubs Australia will export 27.5 million bottles of infant formula products across the Pacific Ocean to help with a nationwide shortage in the US. The Bubs share price shot to a 52-week high of 84 cents after the announcement and has since drifted back to around 63 cents. The daily chart shows that the wide gap left behind last week’s skyrocketing price will turn out to be massive support for the mid-term outlook. However, the RSI, which has pulled back from the overbought territory, suggests a near-term breath is already on the cards. Source: IG Microsoft Last week Microsoft sent out a red flag warning its outlook for revenue and profit for the next quarter will be cut, reasoning to the strength of the US dollar. The US Dollar Index, which tracks the currency against a basket of others, has jumped up roughly 13% over the past 12 months. As a global provider of everything from office software to cloud-computing services and videogames, Microsoft enjoyed a big chunk of profits from overseas operations. For example, Microsoft received $36 billion in pre-tax income from overseas markets in the last financial year, compared with $35 billion domestically. As a result, a stronger US dollar is expected to weigh heavily on the global IT giant's sales and profits outlook as eroded by a higher exchange rate. From a technical point of view, Microsoft's share price reached its 12-month low in May before the ascending trendline brought the price back to the bottom of last October. However, last Friday’s decline has breached this trendline now with the support from the 20-day moving average. For the near-term, support can be found from the level of $263 as it will combine the 20-days moving average and the high of last April. On the flip side, it’s expected that the price will have to face intense selling pressures when moving towards the level of $280. Source: IG 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. Hebe Chen | Market Analyst, Melbourne 07 June 2022
  17. Zoom shares rallied to $109 at the end of trading last week, bolstered by positive Q1 results and investor hopes of an overcorrection. Source: Bloomberg Shares Zoom Revenue Price Valuation Microsoft Zoom (NASDAQ: ZM) shares rose to $66 apiece during their Initial Public Offering in April 2019. By October 2020, the Nasdaq 100 company’s shares had skyrocketed to a record $559 as the covid-19 pandemic saw demand for its technology soar. Zoom’s share price then fell by 85% to $84 last month on a toxic cocktail of competition concerns from the likes of Microsoft's Teams and Alphabet's Google Meet, tightening monetary policy, and reduced demand due to the waning pandemic. But it’s now recovered to $109 after a strong Q1 results update. Zoom share price: Q1 FY23 results Results were strong for the embattled Nasdaq stock. Even with the pandemic dying down, Q1 revenue was up 12% year-over-year to $1.073.8 billion, on a GAAP operating margin of 17.4%. Meanwhile, net cash as a result of operating activities hit $526.2 million, a 49% margin. Founder and CEO Eric S. Yuan enthused that the company ‘launched Zoom Contact Center, Zoom Whiteboard and Zoom IQ for Sales, demonstrating our continued focus on enhancing the customer experience and promoting hybrid work.’ Expecting these developments to generate further growth, the CEO said revenue growth was driven by ‘by ongoing success in Enterprise, Zoom Rooms, and Zoom Phone, which reached 3 million seats during the quarter’ and highlighted its continued ‘strong profitability and cash flow.’ However, net income was cut in half to $113.7 million year-over-year, predominantly due to an increase in marketing costs, which more than trebled to $362.8 million. However, this was an expected cost increase, with organic demand slowing as more companies move back to the office. Source: Bloomberg Where next for Zoom shares? Zoom expects to increase revenue to $1.1 billion in Q2 and to make between $4.5 billion and $4.6 billion in FY23. This marks a huge slowdown in growth compared to the pandemic years. For context, while Q1 revenue growth beat the Refinitiv average analyst estimate, it represented the slowest growth in 17 quarters. Sales rose by 326% year-over-year to $2.65 billion in FY21, and profits increased by almost 3,000% to $672 million. Then in FY22, revenue increased by 55% to $4.1 billion year-over-year. Worryingly, the number of Zoom customers contributing more than $100,000 in trailing-12-month revenue missed consensus estimates, only rising by 45.9% year-over-year. These customers are usually a more stable source of income than smaller contracts, and show Zoom is not attracting as many larger corporations as investors had predicted. And during the pandemic, many investors sought a pure-play opportunity to take advantage of the business response to remote work changes. But as employment culture renormalises and monetary policy tightens, investors could be turning to Alphabet and Microsoft to take advantage of the defensive nature of their diverse operations. But Daiwa Capital Markets analyst Stephen Bersey thinks that ‘given the recent tech-market pullback and a market rerating of valuation levels, we consider the new upside potential to our 12-month price target’ and has put an outperform rating on the stock. However, Piper Sandler’s James Fish acknowledges a risk in ‘calling a bottom in shares given valuations in tech appear oversold,’ but thinks there is a ‘limited risk-reward’ at its current price, with better options available. The long-term prospects for Zoom shares rest in the continued hybridisation of work. In the UK, the Office for National Statistics reported that more than a third of adults spent some time working from home in Spring, and 84% want to continue hybrid working. Similar employee opinion exists across the pond. Benchmark Co’s Matthew Harrigan enthuses that ‘the fixation on Zoom as a Covid pandemic lockdown aberration is exaggerated as global tech and financial firms recognize the permanence of hybrid work.’ Meanwhile, Pedro Palandrani of Global X thinks that ‘we will need a reliable platform for virtual communication to supplement in-person meetings, and there is a strong sentiment in Zoom’s favor already from a user perspective.’ This could make Zoom shares excellent value at their current price point. They now have a price-to-earnings ratio of 26.5, compared to an absurd 225 in October 2020. And unlike many fellow Nasdaq stocks, it was highly profitable at IPO, remaining so even as growth slows down. This makes it far less vulnerable to the whims of the Federal Reserve. Zoom’s share price might now be fairly valued to consolidate gains after its rapid pandemic growth. 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. Charles Archer | Financial Writer, London 07 June 2022
  18. Hi @whosethedaddy, Thank you for your post. Please be aware that the CTC statement from this year is not ready. You can find further information on the tax statements on the post below: You can find the CTC statement on My IG > Live accounts > Statements > Annual: I hope that it helps. All the best - Arvin
  19. Hi @GraHal, Thank you for your post. Our iOS app is currently running correctly. You can try to delete and reinstall the app. Have you updated your device to the latest iOS version (15.5)? Thank you - Arvin
  20. Hi @Volterra, Thank you for your post. I do not have an Android device, but on iOS the P/L in % is not available. I will forward your feedback on that feature to the development team. Thank you - Arvin
  21. Australian dollar eyed ahead of Chinese Services PMI numbers; crude oil may rise after Saudi Aramco raises July prices for Asia and AUD/USD may probe the May high if sentiment improves. Source: Bloomberg Forex Shares Commodities Australian dollar China AUD/USD Today, the Australian dollar may continue climbing against the US dollar if risk sentiment stays intact. The pair rose more than half a percent last week, although some gains were trimmed going into the weekend due to Fed rate hike bets firming up the US dollar on Friday after the non-farm payrolls report. Market sentiment remains fragile as recession fears swirl, pushing traders into a tactically defensive posture. Economic data from China may set the tone as Asia-Pacific trading kicks the week off. Caixin Global, a Chinese financial media firm, will unveil its purchasing managers’ index for the services sector at 01:45 GMT. The index contracted for a second month in April amid broadening Covid-19 lockdowns, falling to 36.2. If data today shows a rebound for May, it could inspire some risk-taking. Elsewhere, a PMI report for Hong Kong from S&P Global is due out. The Asian financial hub’s economy has weathered Covid lockdowns better, likely due to the concentration on non-manufacturing firms amid the main drivers of local growth. Australia’s TD-MI inflation gauge (May) and ANZ job advertisements (May) are also due out. Thailand will report inflation numbers. Crude oil prices look set to continue rising this week, bolstered by rising demand expectations across Asia, in large part due to easing restrictions in China. Saudi Arabia’s state-owned Aramco increased the premium it charges Asian oil customers by $2.10 a barrel for July. Brent crude prices may rise more versus WTI, as Aramco left prices unchanged for US customers. AUD/USD technical forecast The May swing high proved worthy resistance last week, a level that is likely to come back into play shortly. A break above that level would open prices up to the 61.8% Fibonacci retracement. Alternatively, bulls may look to the 38.2% Fib for support if Friday’s bearish action continues. The MACD and RSI oscillators are improving, modestly bolstering the case for further gains. AUD/USD daily chart Source: TradingView 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. Thomas Westwater | Analyst, DailyFX, New York City 06 June 2022
  22. Hi @LouisGG, Thank you for you post. If a market is on Closing only it could be for several reasons. It could be because it is a small market cap that is being phase out, could be because of restrictions etc. Usually closing only markets allows clients to close their open positions, as we are not accepting new position to be opened. Please let us know which market you are after we will be able to provide you with further information. Thank you - Arvin
  23. Hi @Underwood, You should be able to sell your shares by login into your IG account to access the Web trading platform. Once on the deal ticket, click on sell and select the quantity of share you would like to sell: If you need further assistance please call 0800 409 6789 or email helpdesk.uk@ig.com. I hope that it helps ! All the best - Arvin
  24. Source: Bloomberg Indices Shares Forex S&P 500 Investment Stock US equities staged a recovery in the final full week of May after a threatening theme enveloped stocks in the first four months of 2022 trade. In the S&P 500, the index put in a really strong showing last week to wipe away the losses from earlier in the month. The net result – a doji on the monthly chart of the S&P 500 and this isn’t a very common occurrence. This, of course, highlights indecision; but to anyone watching in the first few months of the year they’d likely remember that there’s been little of that as sellers have controlled the matter for much of the year already. This indecision is more indicative of sellers stepping back from the ledge but, this wouldn’t be the first time that we’ve seen that in 2022 trade. This is very similar to what showed in March of this year, just after the Fed started hiking rates. Going into that rate decision, there was fear around QT and how quickly the Fed might look to pare their bond holdings. But – when they avoided the topic altogether stocks flew higher as shorts were squeezed, and that rally lasted into the end of the month and the end of Q1. But, as the door opened into Q2 sellers made a reappearance, and for the most part remained in-control of price action for the next six weeks. At this stage, the S&P 500 is finding resistance around prior support, taken from the zone that was helping to hold the lows back in mid-March, around the time of that FOMC-fueled reversal. This resistance is in a confluent zone between a couple of Fibonacci levels, plotted at 4186 and 4211. On the support side of the matter, there’s another confluent zone at-play, running between 3802 and 3830. S&P 500 weekly price chart Source: TradingView Taking a step back the monthly chart highlights the importance of the above support and resistance zones. The spot of support is confluent between the 38.2% retracement of the pandemic-move and the 23.6% retracement of the post-Financial Collapse move. Resistance is taken from the 23.6% mark of the pandemic-move along with the 14.4% retracement of the post-Financial Collapse move. This highlights how the pullback, so far, is but a small portion of the recent run in equities. And what makes this of interest is the fact for the first time during this run in the post-GFC environment, the Fed is faced with no choice but to hike rates in the effort of stemming inflation. Yesterday heard a mea culpa from Treasury Secretary Janet Yellen regarding her previous take on inflation. And then Jamie Dimon, a man not known for hyperbole, warned of a ‘hurricane’ on the horizon. Both comments are rooted from the same source, fear that the Fed will have little choice when it comes to policy as the bank simply has to address inflation as directly as they can. S&P 500 monthly price chart Source: TradingView S&P 500 shorter-term So, we got the late-month retracement, similar to March. And now the door has opened into June and we have some important considerations to take into play. Namely, the FOMC rate decision is right around the corner. The Fed hasn’t even started to sell bonds from their portfolio and as I’ve been tracking so far this year, QT seems to be the big factor of concern for global markets. The Fed goes into a blackout period after this weekend, meaning that there’ll be no more Fed-speak ahead of the June rate decision. And before we get there, tomorrow produces a Non-farm Payrolls report out of the US that will likely generate considerable attention. At this point the S&P 500 has started to put in a series of lower-lows and lower-highs on shorter-term charts but, at this stage, those moves remain within prior ranges. But, given the gyration in this range from last month, there’s a few levels of note that could be workable for short-term strategy. The level of 4101 was big and prices is currently testing through that. This exposes the next spot of short-term support which I’m plotting around 4062. That exposes the next major spot of support around the 4000 psychological level. If sellers can re-engage back below that level, the bear trend will start to look more attractive again, particularly from longer-term charts as sellers would be making a bit statement by fading out even more of that late-month bounce. S&P 500 four-hour price chart Source: TradingView James Stanley | Trading Instructor, DailyFX, New York City 03 June 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.
  25. Australian dollar gains ground amid broader sentiment recovery; copper prices rise as supply and demand factors see improvement and AUD/USD testing resistance from May after beating 200-day SMA. Source: Bloomberg Forex Commodities Australian dollar AUD/USD United States dollar Copper Friday’s Asia-Pacific outlook The risk-sensitive Australian dollar put in a solid rally versus the US dollar overnight as risk appetite returned to US markets. Stocks on Wall Street rose into the closing bell following a morning lull, encouraged by rosy data on unemployment claims. Those numbers helped to temper some risk aversion ahead of tonight’s highly anticipated US non-farm payrolls report—which is likely to influence short-term economic forecast and alter the Fed’s perceived rate hike path. Analysts expect to see the US add 323k jobs in May, according to a Bloomberg survey. Other Asia-Pacific currencies, such as the New Zealand dollar, were also stronger overnight. Australia’s trade data from yesterday surprised analysts, with its surplus rising more than expected, helping to cool fears over a slowdown in economic growth throughout the region. The slowdown in bond selling seems to support that view, although the global economic outlook remains highly precarious as central banks attempt to tamp down inflation. Moreover, the rebound in oil prices, following a decision by OPEC+ to increase production, also supports the market’s view that the odds of a recession may be waning. The oil cartel and its allies, on Thursday, announced that they would increase production by 648,000 barrels per day in July and August. The move comes amid soaring gasoline prices, perhaps stoking fears among members that those high prices may induce demand destruction, which may already be occurring in the United States. Elsewhere, metal prices, particularly copper, rose sharply. The price of copper in New York increased more than 5% to its highest level since April 25. An announcement from Chile’s government stated that copper production has dropped across its state-owned mining enterprises on a year-over-year basis. China’s recent rollback of Covid restrictions provided a solid base for the supply-side news to drive prices higher. APAC traders will be monitoring home loans data out of Australia, set to cross the wires at 01:30 GMT. AUD/USD technical forecast AUD/USD is battling the May swing high after rising above its 200-day Simple Moving Average (SMA) overnight. Prices vaulted higher from the 38.2% Fibonacci retracement shortly after the MACD oscillator crossed above its centerline. A former level of support at the 61.8% Fib level may provide the next level of resistance if prices continue to rise. AUD/USD daily chart Source: TradingView Thomas Westwater | Analyst, DailyFX, New York City 03 June 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.
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