ArvinIG

Hi @Ben5109, Please follow the steps on the link below: https://www.ig.com/au/help-and-support/accounts-and-statements/statements/how-to-generate-a-statement-or-an-account-ledger-summary If the dividend payments received are normal dividends, this statement will be available the month after the financial year has concluded. However, if you’ve received dividends from an attribution managed investment trust (AMIT), your statement may be generated as late as October, as we can only include that information once we’ve received a breakdown from the company concerned. I hope that it helps. All the best - Arvin

Hi @blackarrow, I will forward your feedback to the relevant department in regards to having Share Dealing Demo servers. I understand your point. We do have products warnings on our website clearly stating that leverage products are risky. To open a CFD account , you will need to complete a questionnaire to assess your experience in trading. If you fail that questionnaire we wouldn't give you access to a CFD account to avoid exposing you to high risk products. I don't know much of IB's offers, effectively you can compare both. We do have the IG Academy, free educational content on trading if you are after some courses before starting to trade. All the best - Arvin

Hi All, Thanks for your posts. IG will be booking preference shares on a 1 for 1 basis. Thank you - Arvin

Shares Commodities Iron ore Mining Iron BHP This issue of Investor Spotlight is brought to you by IG, with Kyle Rodda, Market Analyst and ausbiz presenter. For better or worse, the ASX is dominated by companies that mine one of Australia’s most abundant resources: iron ore. In this piece, we dig into the investment case for owning iron ore stocks, what’s driving these companies' shares right now, and the fundamentals of the three best ASX-listed iron ore companies. Should your portfolio hold iron ore miners? The materials sector of the ASX200 makes up over 20% of the index’s total market capitalization. Of that 20%, the iron ore miners dominate, with three – BHP, Rio Tinto and Fortescue Metals Group – amongst the biggest companies in the overall market. In fact, at its recent peak, BHP was more than 10% of the total index weight, after the company ended its dual-listing on the London Stock Exchange. For Australian investors, investing in one of the country’s biggest and best companies is an inescapable choice. But just like when making any investment, timing, price, risk and reward all must be considered. And as a cyclical stock, the investment case is heavily informed by the economic cycle - and the outlook for iron ore prices. What’s driving the iron ore price? Since the beginning of the pandemic, iron ore prices have scaled record highs as the global economic recovery roared. The spot price of the commodity hit as high as $US220, with hot steel demand from China, as the country’s policy makers pump-primed its economy out of lockdowns, underpinning the move. Demand has cooled markedly over the past 12-months however, as actions by China’s central government to deleverage its property sector, stop-start lockdowns, and so-so monetary and fiscal stimulus push iron ore prices to current levels around $US100 per tonne. The outlook is also uncertain, as China’s dynamic-zero policy remains in place and the global economy shows signs of slowing. Source: Bloomberg The three best ASX iron ore miners BHP BHP is the largest miner in the world, and after ending its dual listing on the London Stock Exchange, safely the biggest company on the ASX, with a market capitalization of just below $A200 billion. Although a diversified miner, in the business of mining a variety of metals, minerals and petroleum, iron ore makes up more than half of the company's profits - a figure that hit a record high in financial year 2021 of over $17.1 billion. Profits are expected to climb again this financial year, with consensus forecasts for profits tipped to rise to $24.5 billion, and earnings per share to increase from $3.37 to $4.07, according to data compiled by Reuters. This will amount to a dividend increase from $3.01 to $3.43. The issue for investors when it comes to BHP shares is looking further ahead. Earnings are tipped to remain robust, but are likely to slow. Current estimates for the companies’ dividend is expected to moderate to pre-pandemic levels of around $1.87 by 2024. BHP’s price-to-earnings ratio of 6.55 is low by historical standards. Nevertheless, cyclical stocks tend to see multiples reach their most attractive at the peak of the cycle. It is also more rich than its industry peers. Broker analysts remain bullish on the stock, despite the uncertain outlook for demand for its most profitable commodity. Of 20, ten either have a strong buy or buy, and the other ten a hold, with a media price target of $44.50 per share. Source: IG Rio Tinto Rio Tinto is the second largest metals and mining corporation, with its market capitalization currently $143.5 billion. Roughly $36 billion of that is its ASX-listed business. Like BHP, Rio Tinto is a diversified miner, but generates the majority of its profits from the production of iron ore. Rio Tinto recently posted its half-year results, with the company’s financials better representing the acute fall in iron ore prices. Profits fell by nearly 30%, and its dividend slashed by half to $2.67 per share. The stock trades at a more attractive multiple than its larger counterparts though it does point to a company that has seen profits peak for this cycle. The company’s full year dividend is tipped to moderate to $6.38 then to $5.45 in the next two financial years. Analysts are positive on the outlook for Rio Tinto, though. Three recommend a strong buy, eight a strong buy, and seven a hold with a price target of $115.50 per share. Source: IG Fortescue Metals Fortescue Metals Group is a pure iron ore play, with the company’s business’ operations focused on the mining of the commodity. The miner's competitive advantage comes from its relatively low-cost base, higher adaptability to changing demand and operating efficiency. Conversely, the iron ore it produces is of lower quality, and because it is almost solely an iron ore miner, lacks diversified revenue streams. Like its larger counterparts, Fortescue posted record profits in its last financial year. Net profit rose by more than double to $US10.4 billion and earnings per share leapt to $3.35 for a dividend pay-out of $3.58. Consensus forecasts compiled by Reuters are projecting a drop in profits and dividends this financial year and going forward. Earnings per share is tipped to contract to $2.04 and decline over the following two financial years, as profits revert to long-term trends. The broker community is more pessimistic on the outlook for Fortescue, largely due to its concentration on iron ore. It has a consensus sell rating amongst 19 analysts, with 11 recommending that action, seven suggesting a hold, and just one a buy. The consensus price target is $17.00. Source: IG Summary The iron ore majors are a staple investment for many Australian investors. Some of the biggest and best mining companies in the world are listed on the ASX, and offer exposure to great management, cyclicality and long-term value. However, as with any cyclical stock, timing is everything; an investor must be confident of when it is time to buy, or be prepared to hold throughout the fluctuations of the economic cycle to see full value. Kyle Rodda | Market Analyst, Australia 09 August 2022

Asia-Pacific markets face rocky start after a mixed session on Wall Street; Australia’s Westpac consumer confidence eyed as potential risk to AUD and AUD/USD retakes 50-day SMA after overnight gain, but momentum looks fragile. Source: Bloomberg Forex Indices Shares Commodities AUD/USD United States dollar Tuesday’s Asia-Pacific outlook The Australian dollar is searching for direction in Asia-Pacific trading after rising more than 1% overnight. Stocks closed mixed on Wall Street. The tech-heavy Nasdaq-100 Index (NDX) fell, and the small-cap Russell 2000 rose. Rising oil prices helped support energy stocks, with WTI crude oil and Brent oil prices rising more than 2%. Copper and iron ore prices are higher, aiding the commodity-sensitive Aussie dollar. China’s trade balance data showed a renewed appetite for many commodities in July. Goldman Sachs cut its Brent crude oil price forecast for the third quarter from $110 to $140. Energy traders are watching for monthly reports from OPEC and the International Energy Agency this week, along with inventory data from the API and EIA. OZ Minerals rejected an unsolicited offer from BHP Group worth A$8.34 billion. The CEO of OZ Minerals appeared unimpressed with the offer, but it is unknown if BHP will adjust its bid. Overall, however, it’s a positive sign for the copper industry. The recent drop in prices does favor the position of larger companies that are likely better capitalized. New Zealand’s electronic retail card spending fell 0.2% from the prior month in July. NZD/USD climbed above its 50-day Simple Moving Average during New York hours. A move higher in iron ore prices helped support AUD, but prices face a potentially volatile session today, with Westpac consumer confidence due shortly. The gauge has fallen since January, and the RBA’s recent rate hike may have dragged sentiment further. Notable Events for August 09: Philippines – Balance of Trade (June) Australia – NAB Business Confidence Philippines – GDP Growth Rate QoQ (Q2) Thailand – Consumer Confidence (July) Japan – 30-Year JGB Auction Indonesia – Retail Sales YoY (June) AUD/USD technical outlook AUD/USD is trading back above its 50-day Simple Moving Average (SMA) after rising from its 20-day SMA. A break above the 0.7036 level may clear a path for more gains. However, RSI and MACD, while positive, have started to moderate. A pullback would aim for support around the 20- and 50-day SMAs. AUD/USD daily chart Source: TradingView Thomas Westwater | Analyst, DailyFX, New York City 09 August 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.

This week Australia’s top companies present their annual result for the previous financial year. Today’s preview focuses on the REA, CBA and Telstra. Source: Bloomberg Indices Shares Telstra Price Technical analysis Australia The upcoming FY 2022 report is expected to show some level of slowdown as Australian businesses are not immune to the shifting market, rising interest rates and a tight job market. REA Group (ASX:REA) Earnings date: Tuesday, 9 August 2022 at 8.30am (AEST) Expectation: EPS: $3.11 representing an 27% yearly growth For fiscal years 2022 and 2023, analysts are estimating that the average annual growth will increase to 19.45%. Key watch: The REA Group Ltd has delivered a strong result for the first three quarters of the 2022 financial year. In Q3, the group reported a 23% yearly revenue growth driven by Australian residential businesses and the inclusion of Mortgage Choice, with EBITDA up 27%. While the fundamentals of the residential property market remain positive, the impact of the rapidly rising interest rate is poised to stay for the next financial year. Hence, investors will presumably interpret the result more as an indicator for the business's next chapter instead of celebrating what has been achieved. However, even regarding all the macro headwinds, shareholders still have good reason to be confident in Australia’s top one property platform thanks to its exceptional robust balance sheet and unbeatable market share. The company’s free cash flow is growing at a mouth-watering 68%, and its website traffic is three times more than its rivals despite admitting to a moderate decline recently. Source: REA Technical analysis: REA’s share price has managed to ride the ascending trendline, bottoming out from the July low over the past four weeks. The decent support by all three major SMA raises the likeliness of a wider bullish trend to send the price back to $130+, the highest level in four months. On the other hand, any potential pullback should see the support near $120 at play. REA weekly chart Source: IG Commonwealth Bank (ASX: CBA) Earnings date: Wednesday, 10 August 2022 Expectation: EPS: $5.11, representing a 9.7% YOY growth Revenue: up $9.3 billion Key watch: The Commonwealth Bank of Australia is expected to report success, likely carrying on the momentum from the first half of the financial year when the company delivered a jaw-dropping 26% increase in Net profit after tax from the previous year. Investors are particularly keen to get a glimpse of how much May and June’s interest rate increases will bolster the banking sector’s earnings. While the brutal rate increase cycle is expected to translate into interest margin for the near term, the likely tail risks also come from stagnant housing loan growth and emerging cost pressure. Source: CBA Technical analysis: For the year to date, the share price for the CBA has outperformed the board stock market with marginal change (-0.8%) while the ASX 200 has dropped by 10%. The CBA share price has enjoyed a strong rebound from mid-June and has been up by more than 17% since then. Based on the daily chart, the price is attempting to consolidate the position above the $100 threshold with $103 set to be the next destination. On the other hand, the RSI is nearly reaching the overbought territory, suggesting a near-term breath could be on the cards first before moving on to the next challenge. CBA daily chart Source: IG Telstra Earnings date: Thursday, 11 August 2022 Expectation: EPS: $0.14, representing an 40% yearly decline Revenue: $21.85 billion, up 4% from last year Key watch: Over the past decade, Australia’s leading telecommunications company has been surrounded by headwinds and investors are looking forward to the forthcoming result with optimism that Telstra is ready to move on to the next chapter. The hope not only stems from the welcome of a new CEO after seven years but because the company has recently projected to deliver profit growth. Outside of the business’s outlook, as a long-regarded 'defensive stock', Telstra’s dividend yield will be another focus. Telstra is aiming to pay an annual dividend of 16 cents per share which would translate into a fully franked dividend yield of four per cent. Technical analysis: The share price for Telstra has climbed from the bottom of the year at $3.7 during the past month. The level of $4 is set to be a significant challenge as a notable fail at this level in April triggered two months of selling. Moreover, the gap between $4 to $4.1 has proved to be a key hurdle should the price attempt to return to its level early this year. On the flip side, the price should find solid support from its 20- and 100-days moving average at around 3.95. Telstra daily chart Source: IG Hebe Chen | Market Analyst, Melbourne 08 August 2022

Walt Disney is set to report its third quarter (Q3) earnings on Wednesday. Amusement park Disney+ Walt Disney Income Streaming media Walt DisneyWalt Disney Co (All Sessions) is set to report year-on-year (YoY) growth in its third quarter (Q3) earnings release on Wednesday, likely focusing on the growth of its subscription service Disney+ and the outperformance of its amusement parks. But will management have to lead with caution in their guidance as consumers are likely to have started to feel the pinch of higher costs of living, reducing their spending on discretionary items like amusement parks? (Video Transcript) Walt Disney Q3 earnings: what to expect Walt Disney will be reporting its third quarter earnings on Wednesday, and analysts are expecting the entertainment company to produce earnings of just under $1 per share on revenues of almost $21 billion. This would, in fact, be higher than the third quarter of 2021. But the streaming service's Disney + is definitely going to be attracting a lot of attention from investors, especially as their second quarter (Q2) numbers beat expectations in terms of new subscribers and setting a path to Netflix Inc (All Sessions), who saw a little bit more of a gloomy outlook in the same quarter. Disney chart Let's pull up a chart of Disney to see how their shares are performing, because we have seen consumers prioritising entertainment after being deprived of this for almost two years because of the pandemic. But there's definitely something to keep an eye out for in the future, and that's, of course, the increase of the cost of living. That might mean that people are spending less on discretionary items and their disposable income would be reduced, which means potentially their amusement park visits will also be reduced in the next few months. That's definitely where we might see a little bit of a guidance there from the management at Disney. So, watch out for that guidance. But for now, we are seeing a little bit of an uptick in Disney shares. Again, a lot of this having to do with the performance of Disney plus outperforming expectations in terms of analysts. So focus on these three things for the earnings: watch out for Disney + and its subscription numbers, watch out for the park entrances for the session, but also watch out for those announcements from Disney management as to what they're expecting in the next few months as people start to feel the pinch of these higher costs of living. Daniela Sabin Hathorn | Presenter and Analyst, London 08 August 2022

Hi @TuesdayTrader, This feature is not available on the platform. You will need to program it yourself for an order to be sent at a specific time. You can use an API if you wish. If you need further assistance, please reach out to helpdesk.uk@ig.com Thank you - Arvin

Hi @peterz, You will receive the dividend in your account currency. IG will make the conversion when crediting your account. Thank you - Arvin

Hi @acornopolis, We are unable to ascertain how the company processed this event, but from IG's end we mirrored the custodian and it seems they processed this as a stock split. The client would have an extra 3 shares for each one held before Ex-date and the new market (after Ex date) price would be feeding into the give the client’s P/L. We won't know how the company recorded it. Thank you - Arvin

Hi @blackarrow, Thank you for your post. Our Demo accounts are CFD accounts using leverage and margin. Our Demo servers and Live servers are separated. We do not have Share Trading demo account as share trading works with Direct order to the market. You are looking for an account to hold your shares, you can find more information on share dealing accounts here: https://www.ig.com/uk/investments/share-dealing If you need further information, please let us know. Thank you - Arvin

Hi @angela2v, You can add stops to a share dealing order: Let us know if it helps. Thank you - Arvin

The Australian dollar continues to bump around in a two cent range; RBA rate hike not enough to support AUD but trade numbers can’t be ignored and China and Taiwan make the news, but a hawkish Fed might drive AUD/USD. Source: Bloomberg The RBA rate decision has come and gone with the widely anticipated 50-basis point hike to 1.85% that sent the Aussie south. The move lower was compounded by a number of Fed speakers later that day, re-iterating the hawkish stance of the central bank, boosting the US dollar. AUD/USD then recovered going into the end of last week, maintaining a comfortable position within the two-week range of 0.6860 – 0.7050. That recovery was helped by another astonishing trade surplus of AUD 17.67 billion for the month of June. This beat the forecasts of AUD 14 billion and May’s surplus of AUD 15 billion. The charts below from the RBA tell the story of Australia’s commodity boom. The unemployment rate of 3.5% is as low as it has been in generations. First quarter GDP was 3.3% year-on-year and second quarter GDP will be released early September. Inflation aside, the Australian economy has rarely been in as good a shape as it is right now. Yet, AUD/USD continues to languish, and this highlights the impact of the external environment on the currency. The visit of US House Speaker Nancy Pelosi to Taiwan provided many headlines for media outlets to sell copy. Someone with an extravagant affection for all things communist is Hu Xijin. His twitter feed reads like a script from Saturday Night Live without any punch lines, but it does provide an insight into the propaganda that mainland Chinese citizens experience on a daily basis. The communist party needed a distraction from domestic issues and what better fireworks than a few ballistic missiles to stoke nationalistic fervour. Hu Xinjin is in his element, stoking the flames of xenophobia with such gems as, 'in the event of a maritime conflict between the US and China, the US carrier formation would be wiped out.' Of course, the western media are also known to make more of a story than perhaps is there. The communist party have enjoyed media story lines that are not about a property sector that is spiralling toward an unknown outcome. In any case, markets are mostly ignoring the Taiwan situation for now. The war in Ukraine continues to impact. The focus for the week ahead will be Fed speakers and market interpretations of the rhetoric. All Fed speakers since the Federal Open Market Committee (FOMC) meeting have so far spelled out quite clearly that more rate hikes are coming. The US Dollar and the rates market reflect this perspective. Equity markets and high yield bonds are pricing in the opposite. As one pundit quipped about the equity market reaction to the FOMC rate decision last week, it is ‘dove at first sight’. The RBA released their Statement on Monetary Policy (SMP) on Friday, but there were no surprises. They expect inflation to peak at 7.75% later this year. Without a CPI read until late October, the central bank may as well put the cue back in the rack. Jumbo hikes seem to be off the table for now and 25-basis point rate rises appear to be a safe option for the September and October meetings. Looking ahead for AUD/USD, it is the USD side of the equation that appears likely to drive the price action. If the ‘big dollar’ resumes it ascending trend, that may see the Aussie lower. Source: TradingView Daniel McCarthy | Strategist, | Publication date: Monday 08 August 2022 11:35 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.

Asia-Pacific market sentiment lags despite rosy economic data out of China; China’s city of Yiwu sees partial lockdown after Covid cases identified and AUD/USD struggles to maintain itself above the 20-day SMA. Source: Bloomberg Forex China AUD/USD United States dollar Australian dollar United States Monday’s Asia-Pacific outlook Better-than-expected Chinese trade data, driven by strong export growth, may provide some fuel for markets to climb higher in today’s Asia-Pacific session. China posted a $101.26 billion surplus for July, beating the $90 billion consensus forecast. An 18% rise in exports—seen as a proxy for global economic demand—helped drive China’s surplus to a record figure. However, imports rose at a 2.3% year-over-year pace, disappointing analysts’ expectations of a 3.7% y/y increase and signaling that China’s domestic consumption remains soft. The Australian dollar is trading slightly lower versus the US dollar this morning despite the rosy economic data. AUD/USD fell over 1% last week as the Greenback climbed into the weekend after a red-hot US nonfarm payrolls report that showed over half a million jobs added in July, dragging the unemployment rate down to 3.5% from 3.6%. The still-strong labor market weakened the market’s ‘Fed pivot’” thesis, evidenced by overnight index swaps that showed 2023 Fed rate hike bets firming. China’s city of Yiwu, located in Zhejiang Province, announced a partial lockdown after several positive Covid cases were identified. The key manufacturing hub has seen access to and from the city restricted, as well as the closure of gyms and restaurants, though factories remain open. That may change however, if cases continue to climb. China’s ‘Zero-Covid’ strategy remains vital to broader market sentiment. The longer it remains in effect, the more internal damage it risks inflicting on the world’s second-largest economy. Meanwhile in the United States, lawmakers passed a key part of President Joe Biden’s agenda, likely marking the last major piece of legislation before US midterm elections start later this year. The vote threatens the Democrats’ majority in Congress. The bill focuses on environmental policy and includes nearly half a billion dollars in spending for energy and climate-related measures. It also removes a tax credit limit on electric vehicles (if they are built in North America), which should provide a boost for American-based EV companies. More broadly, the measure could be a tailwind for metals that are heavily used in EVs, such as copper, cobalt, and lithium. Notable Events for August 08: Philippines – Retail Price Index YoY (April) Indonesia – Consumer Confidence (July) New Zealand – Business Inflation Expectations (Q3) Japan – Eco Watchers Survey (July) Taiwan – Balance of Trade (July) AUD/USD technical outlook AUD/USD prices are holding above the 20-day Simple Moving Average following several intraday attempts to break below the key MA. If bears succeed in piercing lower, prices may return to around 0.6700, where a Falling Wedge breakout started last month. The Relative Strength Index (RSI) cut under its midpoint recently, a bearish momentum signal. AUD/USD daily chart Source: TradingView Thomas Westwater | Analyst, DailyFX, New York City 08 August 2022 11:09 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.

Hi @coincatcha, Thank you for your post. Please ensure that you have enough funds on your CFD account. It seems that there isn't sufficient funds to activate PRT. Once your live account activated you will have access to the demo account as well. I hope that it helps ! All the best - Arvin

Hi @cyan, If you are still unable to cancel you order please call +65 6390 5118 ASAP, for your order to be cancelled. Thank you - Arvin

Hi @pbforex, Thank you for your post. Each Friday after market close, IG has a release window which is used to implement changes to our system. As part of this release, we are aware some accounts were temporarily unable to see open positions. The issue has since been rectified. Please don't hesitate to contact us in the event you experience any further disruption. All the best - Arvin

Hi @MaskedUser101, Unfortunately we can't superpose two markets on one chart. You can have both charts next to each other though. Thank you - Arvin

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 8th August 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 TOP40 AMS SJ 10/08/2022 Special Div 4000 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.

Asia-Pacific markets set for a mixed open ahead of tonight’s US non-farm payrolls report; the RBA’s statement on Monetary Policy eyed in focus for APAC and AUD/USD direction likely hinges on ability to hold above the 50-day SMA. Source: Bloomberg Forex Australian dollar Inflation United States United States dollar AUD/USD Friday’s Asia-Pacific outlook US stock indexes closed mixed overnight on Wall Street as traders prepared for the United States non-farm payrolls report. The jobs report is a vital component to help gauge Federal Reserve policy as rhetoric amongst policymakers pushes back against softening rate hike bets. Cleveland Federal Reserve President Loretta Mester reaffirmed the central bank’s commitment to fighting inflation. Short-term Treasury yields rose but failed to lift the Greenback. The Bank of England’s policy announcement sent the British Pound lower against its major peers. The central bank sees a recession taking hold in the fourth quarter until 2023. That, and a stronger inflation outlook, clouds the United Kingdom’s economic outlook. The sterling fell more than half a percent against the Euro despite a 50-basis-point rate hike from the BOE. That was somewhat surprising, seeing as how Europe is subject to the same energy-driven cost pressure, perhaps even more so than the UK. Gold prices rose, hitting the highest level since July 5 after gaining over 1.5% overnight. The weaker Greenback helped support bullion even as US Treasury rates. Rose. The VanEck gold miners ETF closed 3.48% higher, the biggest daily gain since June. Bitcoin fell following Chinese missile strikes around Taiwanese water, which revived geopolitical risks stemming from the US House Speaker's visit. While a direct military conflict is unlikely as of now, the strikes represent an increase in hostility between China and Taiwan. The Reserve Bank of Australia’s Statement on Monetary Policy may elicit a strong Australian dollar response. Traders will analyze the economic assessment and inflation outlook updates to help gauge future policy actions. RBA Governor Philip Lowe was less hawkish than many expected after his institution hiked its rate by 50 bps earlier this week. Mr. Lowe's rhetoric disappointed policy hawks and punished the AUD. The market believes the RBA is behind the curve on inflation. That puts AUD prices at risk, should today's report temper rate hike bets further. The Indian rupee is at risk of falling to a fresh low against the US dollar if the Reserve Bank of India (RBI) delivers a rate hike below the expected 35-bps increase. Australia’s Ai Group Services Index (Australian PSI) rose to 51.7 in July from 48.8 in June, putting the performance of services index back into expansion, a bright sign for economic growth. Notable events for August 05: Japan – Household Spending YoY (June) Japan – Foreign Exchange Reserves (July) Philippines – Inflation Rate YoY (Jul) Indonesia – GDP Growth Rate YoY (Q2) AUD/USD technical outlook AUD/USD is trading above the 50-day Simple Moving Average (SMA) after the second day of gains, strengthening the currency's posture. If prices hold above the 50-day SMA, a retest of the wedge target at 0.7036 would be on the cards. Alternatively, falling back to the 20-day SMA is another possible outcome. AUD/USD daily chart Source: TradingView Thomas Westwater | Analyst, DailyFX, New York City 05 August 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.

The US jobs report provides markets with a key update for markets as they seek to gauge whether the US economic decline is impacting the jobs market. Source: Bloomberg Indices Unemployment Employment Inflation United States Market trend The July US jobs report is due to be released at 1.30pm, on Friday 5 August (UK time). Coming at a time when markets are enjoying a welcome boost from a largely better-than-expected earnings season, we see the focus come back to the current state of the economy on Friday. Traders will be wondering whether this recent rebound in stocks marks the bottom for markets, yet much of that will be determined by the inflation and wider economic statistics that determine how the Federal Reserve (Fed) reacts going forward. With the US recently entering a ‘technical recession’ of two consecutive negative gross domestic product (GDP) readings, some stipulate that we will only enter a real recession once we see a significant uptick in unemployment. For traders, the fact that a stronger economic picture allows for greater monetary tightening from the Fed means that the reaction to a better-than-expected jobs data could be negative for stocks, yet positive for the dollar. With markets fearing a worrying that we could be on the cusp of a collapse in the jobs market, traders will be watching this report closely across a number of factors. Taking a look at some of the secondary surveys can give us an insight into exactly what we might see when the headline figures emerge on Friday. What do other employment surveys tell us? It is often useful to look out for clues within alternate employment readings, with the Conference Board survey, jobless claims, and ISM purchasing managers' index (PMI) surveys all worth analysing ahead of the main event. Conference board survey Let's look at the latest ‘Conference Board’ survey for July, with the ratio between those finding it difficult to obtain work vs easy to obtain work providing a good proxy for unemployment. As the chart shows, the Conference Board ratio has been reversing upwards over the past four months. With that ratio up to the highest level in almost a year, there is a clear risk that we will soon see unemployment turn upwards. ADP payrolls ADP are taking a break from publishing their employment report, with the firm expected to return to action next month. Initial jobless claims Initial claims have been on the rise over since bottoming out in April, with that trend continuing to take place. The push higher in jobless claims does bring expectations that we could see payrolls drift lower and unemployment could tick higher. ISM PMI surveys The latest ISM surveys have seen a welcome rise across both manufacturing and services employment readings. It is useful to utilize the ISM survey owing to the fact that they do separate out the employment element unlike the headline release. While both readings have managed to push higher in July, we can see that they remain in contraction territory. Nonetheless, with the contraction in manufacturing and services employment apparently easing, it could signal that the decline in payrolls could be less severe than expected. US employment breakdown It is important to understand the relative importance of the services and manufacturing sector when gauging the two ISM surveys above. We can see below that service-related jobs account for almost 75% of all US jobs, with manufacturing representing just 10% of employment in the country according to the latest jobs report. With that in mind, it makes sense to attach greater importance to the services sector employment outlook over those elsewhere. This has become increasingly the case over the course of the Covid-19 pandemic. Non-farm Payrolls The headline non-farm payrolls figure is expected to fall back this month, with markets predicting a figure of 250,000 after the last reading of 372,000. Coming off the back of four readings within the 300,000 - 400,000 range, a figure of 250,000 would be a notable shift from the recent norm. Unemployment From an unemployment perspective, markets are expecting to see the rate remain at 3.6% for the fifth consecutive month. However, the move higher for both the Conference Board ratio and unemployment claims do signal a potential uptick before long. When that does finally break, markets will likely pay close attention as it would signal the potential beginning of an employment crisis that we are yet to see. US earnings US wages will be keenly followed as a proxy for cost push inflation going forward. We have seen wild swings across this metric throughout Covid-19 pandemic, but much of that has been associated with the sharp decline and rise in jobs throughout the services sector. This time we are looking out for whether businesses will be seeking to compensate their workers for the rising prices seen throughout the economy. The second section within the chart highlights the gap between headline inflation and wage growth, with the current relationship providing the widest divergence in more than 15 years. That highlights the historical squeeze we are seeing on disposable income in the US. Markets are expecting to see wage growth to remain at 5.1%, but any significant divergence could be taken as a clue over inflationary pressures going forward. Participation rate The recent cost of living crisis has ramped up pressure on households as disposable income levels are squeezed in response to rising costs. However, this looks like it could help drive workers back into employment, pushing the participation rate higher. The chart below highlights how we have seen the participation rate move upwards after the initial collapse around the inception of the Covid-19 pandemic. Markets are expecting to see the participation rate remain at 62.2% at this meeting. Notably, we can see that the ratio between U-6 unemployment (% of those looking for work) and U-3 unemployment (% of all workers) provides method of measuring participation in the jobs market. Dollar index technical analysis The dollar index has been on the back foot of late, with risk assets on the rise at the expense of havens like the greenback. While Nancy Pelosi has done her best to hamper that move, we are seeing the bears come back into play at the 76.4% Fibonacci resistance level here. With the stochastic rolling over from overbought territory, there is a good chance we see some weakness for the dollar. A break through the 107.14 level would be required to negate that bearish short-term outlook. Source: ProRealTime DJIA technical analysis The Dow continues to climb as we head up towards the crucial 33461 resistance level. A break above that point would bring about a wider bullish outlook for the index. To the downside, we would need to break below the 31694 level to negate the recent bullish trend. Source: ProRealTime Joshua Mahony | Senior Market Analyst, London 05 August 2022

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US dollar rises as US House Speaker’s Taiwan visit spurs risk-off move; Chinese economic woes weigh heavily on crude prices and AUD/USD drops below 50-day SMA after hitting wedge target. Source: Bloomberg Wednesday’s Asia-Pacific outlook A risk-off move that intensified overnight in New York may see Asia-Pacific stocks open lower. The benchmark S&P 500 closed 0.67% lower, extending losses from Monday. US House Speaker Nancy Pelosi’s arrival in Taiwan spurred some risk aversion as investors fear the visit may increase tensions between Washington and Beijing, perhaps to the point where a military conflict is a tangible tail risk. The geopolitical implications sent the safe-haven US dollar higher, with the USD DXY Index gaining almost a full percent during New York trading. EUR/USD fell nearly 1%, trimming gains from the past two sessions. The Japanese yen was another big loser against the Greenback. USD/JPY rose over 1%, although the cross remains sharply lower from its multi-decade July high. The Australian dollar is the worst performer against the US dollar. The impact on AUD/USD stems from haven flows boosting the USD and a disappointing Reserve Bank of Australia rate decision that occurred yesterday. Softer iron ore prices in China are another factor likely weighing on the Aussie dollar. And of course, given Australia’s geographic positioning, Nancy Pelosi’s Taiwan visit may be posing an additional headwind. Gold prices were another victim of USD strength. Spot gold fell more than 0.5% despite the geopolitical concerns, including announced Chinese military exercises. Crude oil and Brent oil prices surrendered early gains, trading flat shortly after the Wall Street closing bell. The American Petroleum Institute (API) posted a surprise build in crude stocks for the week ending July 29. Australia’s Ai Group Construction Index for July fell to 45.3 from 46.2 in June. The New Zealand dollar extended losses after the island nation’s second-quarter employment figure showed a 0% q/q print for employment change. That put the unemployment rat at 3.3%, above the 3.2% in Q1. The weak jobs data may temper RBNZ rate hike bets, explaining some of the downside reaction in Kiwi dollar this morning. Notable Events for August 03: Hong Kong – S&P Global PMI (July) Japan – Jibun Bank Composite PMI Final (July) Singapore – S&P Global PMI (July) China – Caixin Composite PMI (July) AUD/USD technical outlook AUD/USD pierced below its 50-day Simple Moving Average (SMA), clearing a path for further downside. The Relative Strength Index (RSI) crossed below its centerline, amplifying the bearish risk to prices. A drop to the 0.68 handle, where prices exited the Falling Wedge, may be on the table. Alternatively, recapturing the 50-day SMA would help bulls to reenergize. AUD/USD daily chart Source: TradingView Thomas Westwater | Analyst, DailyFX, New York City 03 August 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.

What is next for equities following July’s market rally? Indices Shares Central bank Market trend Stock Market sentiment What's next for equities? After July’s market rally many investors are likely wondering what is next for equities? Historically, when markets are trapped in a bear market there are often rallies that make investors feel like it’s the right time to buy, before being trapped once again in a selloff. If we look at both charts of US indices and European indices we see the same technical pattern - a sustained break above a key area of resistance. As mentioned, this is not uncommon to see and usually precedes another downturn. But the performance in July has been quite something, with most indices managing to achieve a follow-through to the initial reversal. This has likely left many investors feeling like it’s the right time to buy again, but is that the case? Well, in other instances when market sentiment has taken such a sharp turn during a bear market, it has usually involved central banks cutting rates and loosening monetary conditions. This hasn’t happened yet, and will likely not happen for a while, but markets seem to be very convinced central banks will start cutting soon and are therefore trying to front run the market. This is likely going to be a costly mistake if it turns out to be another rally within a bear market. The belief that inflation has been handled and the key focus of central banks is aiding economic health has likely been the cause of many of those who think the lows in June were the bottom of the market. But the Federal Reserve (Fed) has in fact reiterated that bringing price stability is more important than avoiding a recession in the US, a key takeaway that seems to have been overlooked. We have also seen the central bank abandoning forward guidance and focusing on incoming data to make its policy decision, meaning there is likely more volatility up ahead for equities. We’re also seeing companies cutting their growth forecasts and warning about staff cuts, which will in turn lead to a weaker third quarter (Q3), something investors don’t seem to be considering. Technical outlook: S&P 500 and the DAX 40 The technical outlook for both the S&P 500 and the DAX 40 is still showing the longer-term trend to be bearish. Despite having broken above key resistance at their respective descending trendlines, the momentum over the last two sessions is showing buyers are struggling to find further upside in the short-term. This means that both the S&P 500 and the DAX 40 could start to return to their longer-term bearish trend over the next few days. Daniela Sabin Hathorn | Presenter and Analyst, London 02 August 2022

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