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AndaIG

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Everything posted by AndaIG

  1. Hi @CRomey Thanks for reaching out, For share dealing we operate a direct custody model whereby all orders are routed through our broker to the exchange. Our broker does not support for the simultaneous placing of limit and stop orders on the same stock on exchange. All the best, Anda
  2. Retail Sales (MoM)(Jul): Prev: 0.8% Est: 0.1% Act: 0% Retail Sales Control Group (Jul) Prev: 0.7% Est: 0.6% Act: 0.8%
  3. Hi @RobLuna Thanks for reaching out, Unfortunately not, however you can try download your transaction CSV file and filter for the dividends. All the best, Anda
  4. Hi @Matjoss We usually not account specific here as it is a public forum, but as it is a demo I will explain. Trade on USDCAD opened at 12910.3 had a limit at 12918.3 and a stop at 12906.3. Stop was triggered and the trade was closed accordingly. See screenshot below: All the best, Anda
  5. Gross Domestic Product s.a. (QoQ) (Q2): Prev: 0.7% Est: 0.7% Act: 0.6% Gross Domestic Product s.a. (YoY) (Q2): Prev: 4% Est: 4% Act: 3.9%
  6. Hi @Matjoss Thanks for reaching out, Unfortunately you will not be able to see your trading history on the chart. However you are able to view your trading history under My IG>Demo accounts>History. This will give you details on the closing price and time. You can then go to cross reference this with the chart. Remember as you had a long position you would need to sell to close. Therefore ensure that your chart is set to the bid price when cross referencing. All the best, Anda
  7. Hi @Scar Our IT team are currently investigating an issue where the demo link on the dashboard redirects to live accounts. Hopefully they will have a fix soon. The app is working fine. All the best, Anda
  8. Hi @koenigbrok @fjinvest Our IT team are currently investigating an issue where the demo link on the dashboard redirects to live accounts. Hopefully they will have a fix soon. The app is working fine. All the best, Anda
  9. Hi @bgr197 Unfortunately we cant be account specific on this platform, however you can reach out to helpdesk.uk@ig.com or use our live chat feature or call our helpdesk on 0800 409 6789 / +44 (0)20 7896 0079 should you have a query on your account. You should also be able to check your transaction history from My IG>Live accounts>History All the best, Anda
  10. Hi @Allik82 Thanks for reaching out, The BaFin changed its regulation on CFDs, Margin can now no longer be less than the value when the position was initially opened. Thus this would have impacted the margin calculations on accounts. We did send communications out to clients on this event. You are welcome to email helpdesk.uk@ig.com or use our live chat feature should you wish to learn more. All the best, Anda
  11. HAT IS CONTRACTIONARY MONETARY POLICY? Contractionary monetary policy is the process whereby a central bank deploys various tools to lower inflation and the general level of economic activity. Central banks do so through a combination of interest rate hikes, raising the reserve requirements for commercial banks and by reducing the supply of money through large-scale government bond sales, also known as, quantitative tightening (QT). It may seem counter-intuitive to want to lower the level of economic activity but an economy operating above a sustainable rate produces unwanted effects like inflation – the general rise in the price of typical goods and services purchased by households. Therefore, central bankers employ a number of monetary tools to intentionally lower the level of economic activity without sending the economy into a tailspin. This delicate balancing act is often referred to as a ‘soft landing’ as officials purposely alter financial conditions, forcing individuals and businesses to think more carefully about current and future purchasing behaviors. Contractionary monetary policy often follows from a period of supportive or ‘accommodative monetary policy’ (see quantitative easing) where central banks ease economic conditions by lowering the cost of borrowing by lowering the country’s benchmark interest rate; and by increasing the supply of money in the economy via mass bond sales. When interest rates are near zero, the cost of borrowing money is almost free which stimulates investment and general spending in an economy after a recession. CONTRACTIONARY MONETARY POLICY TOOLS Central banks make use of raising the benchmark interest rate, raising the reserve requirements for commercial banks, and mass bond sales. Each is explored below: 1) Raising the Benchmark Interest Rate The benchmark or base interest rate refers to the interest rate that a central bank charges commercial banks for overnight loans. It functions as the interest rate from which other interest rates are derived from. For example, a mortgage or personal loan will consist of the benchmark interest rate plus the additional percentage that the commercial bank applies to the loan to provide interest income and any relevant risk premium to compensate the institution for any unique credit risk of the individual. Therefore, raising the base rate leads to the elevation of all other interest rates linked to the base rate, resulting in higher interest related costs across the board. Higher costs leave individuals and businesses with less disposable income which results in less spending and less money revolving around the economy. 2) Raising Reserve Requirements Commercial banks are required to hold a fraction of client deposits with the central bank in order to meet liabilities in the event of sudden withdrawals. It is also a means by which the central bank controls the supply of money in the economy. When the central bank wishes to reign in the amount of money flowing through the financial system, it can raise the reserve requirement which prevents the commercial banks from lending that money out to the public. 3) Open Market Operations (Mass Bond Sales) Central banks also tighten financial conditions by selling large amounts of government securities, often loosely referred to as ‘government bonds’. When exploring this section, we will consider US government securities for ease of reference but the principles remain the same for any other central bank. Selling bonds means the buyer/investor has to part with their money, which the central bank effectively removes from the system for a long period of time during the lifetime of the bond. THE EFFECT OF CONTRACTIONARY MONETARY POLICY Contractionary monetary policy has the effect of lowering economic activity and lowering inflation. 1) Effect of Higher Interest Rates: Higher interest rates in an economy make it more expensive to borrow money, meaning large scale capital investments tend to slow down along with general spending. On an individual level, mortgage payments rise, leaving households with lower disposable income. Another contractionary effect of higher interest rates is the higher opportunity cost of spending money. Interest-linked investments and bank deposits become more attractive in a rising interest rate environment as savers stand to earn more on their money. However, inflation still needs to be taken into account as high inflation will still leave savers with a negative real return if it is higher than the nominal interest rate. 2) Effect of Raising Reserve Requirements: While reserve requirements are used to provide a pool of liquidity for commercial banks during times of stress, it can also be altered to control the supply of money in the economy. When the economy is overheating, central banks can raise reserve requirements, forcing banks to withhold a larger portion of capital than before, directly reducing the amount of loans banks can make. Higher interest rates combined with fewer loans being issued, lowers economic activity, as intended. 3) Effect of Open Market Operations (Mass Bond Sales): US treasury securities have different lifespans and interest rates (‘T-bills’ mature anywhere between 4 weeks to 1 year, ‘notes’ anywhere between 2- 10 years and ‘bonds’ 20 to 30 years). Treasuries are considered to be as close as you can get to a ‘risk-free’ investment and therefore are often used as benchmarks for loans of corresponding time horizons i.e., the interest rate on a 30-year treasury bond can be used as the benchmark when issuing a 30-year mortgage with an interest rate above the benchmark to account for risk. Selling mass amounts of bonds lowers the price of the bond and effectively raises the yield of the bond. A higher yielding treasury security (bond) means it’s more expensive for the government to borrow money and therefore, will have to reign in any unnecessary spending. EXAMPLES OF CONTRACTIONARY MONETARY POLICY Contractionary monetary policy is more straight forward in theory than it is in practice as there are plenty of exogenous variables that can influence the outcome of it. That is why central bankers endeavor to be nimble, providing themselves with options to navigate unintended outcomes and tend to adopt a ‘data-dependent’ approach when responding to different situations. The example below includes the US interest rate (Federal funds rate), real GDP and inflation (CPI) over 20 years where contractionary policy was deployed twice. Something crucial to note is that inflation tends to lag the rate hiking process and that is because rate hikes take time to filter through the economy to have the desired effect. As such, inflation from May 2004 to June 2006 actually continued its upward trend as rates rose, before eventually turning lower. The same is observed during the December 2015 to December 2018 period. Chart: Example of Contractionary Monetary Policy Examined Source: Refinitiv Datastream In both of these examples, contractionary monetary policy was unable to run its full course as two different crises destabilized the entire financial landscape. In 2008/2009 we had the global financial crisis (GFC) and in 2020 the spread of the coronavirus rocked markets resulting in lockdowns which halted global trade almost overnight. These examples underscore the difficult task of employing and carrying out contractionary monetary policy. Admittedly, the pandemic was a global health crisis and the GFC emanated out of greed, financial misdeeds and regulatory failure. The most important thing to note from both cases is that monetary policy does not exist in a bubble and is susceptible to any internal or external shocks to the financial system. It can be likened to a pilot flying under controlled conditions in a flight simulator compared to a real flight where a pilot may be called upon to land a plane during strong 90 degree crosswinds. Written by: Richard Snow, Analyst Daily FX Source: Daily FX
  12. Hi @infocality Thanks for reaching out, You can send a technical report using the help center on PRT and our IT team will get back to you. All the best, Anda
  13. Hi @Billbot If you looking to work out what is cheaper between the DFB and future you can use the following formula: Futures spread - Spot spread / (2.5% x spot price/360 ) E.g. on 1GBP per point position on US Tech 100 3-2 / (2.5% x 13489/360) = 1.068 Therefore if you are holding the position for longer than a day it would be cheaper to trade the futures contract. All the best, Anda
  14. Hi @keasmarof Thanks for reaching out, We are only offering US ETFs to professional accounts due to a regulatory constraint. You can find details on the following forum: All the best, Anda
  15. Hi @pipzippit Thanks for reaching out, Our IT team is aware of this issue, they will hopefully be rolling out a fix tonight. All the best, Anda
  16. Hi @Burim Thanks for reaching out, Please write to our IT team on helpdesk.uk@ig.com, they will be able to look into this further. All the best, Anda
  17. The US Dollar remains fragile after US PPI eased in July. In a remarkedly similar response to soft CPI data the day before, markets extrapolated a less hawkish Federal Reserve going forward. This notion was once again shot down, this time by San Francisco Federal Reserve Bank President Mary Daly in an interview with Bloomberg television after the New York close. She said that a 50 basis point (bp) lift to rates is her base case at the September Federal Open Market Committee (FOMC) meeting. She didn’t rule out a 75 bp hike, saying that she was open to it. While she welcomed the latest CPI and PPI numbers, she made the point that there are many factors that the Fed will consider in their decision-making. A couple of favourable data points alone are not enough to convince the board that they have had a ‘victory’ over inflation. She sees the Fed funds rate at 3.4% by the end of the year. The next FOMC meeting will be in late September. There will be another set of inflation figures and jobs data between now and then, as well as a plethora of other economic data and the annual symposium in Jackson Hole, Wyoming. The gathering is often used as the venue to unveil the broad trajectory for policy in the coming year. Wall Street closed their cash session pretty flat across the main indices and APAC mostly followed that lead. Japan’s Nikkei 225 was the exception, adding over 2.5% to post a seven-month high. They have returned from yesterday’s holiday, and it appears to be a catch-up rally. Crude oil prices eased through the Asian session after an OPEC report said that they anticipate a supply overhang into the third quarter. The nearest to maturity WTI futures contract is under US$ 94 bbl, while the Brent contract is near US$ 99 bbl. In currencies, the New Zealand Dollar has been the best performer so far today, adding to overnight gains ahead of the RBNZ monetary policy meeting this Wednesday. The market is forecasting a 50 bp rate rise there. Gold is steady around US$ 1791 an ounce. After UK GDP and industrial production figure, the US will get some jobs numbers and the University of Michigan consumer sentiment index release. US DOLLAR (DXY) TECHNICAL ANALYSIS The US Dollar (DXY) index has held above an ascending trend line in recent days, and it may continue to provide support. It currently dissects at the same level as the previous low at 104.64. Further down, the prior lows at 103.67 and 103.42 might provide support. On the topside, resistance could be offered at the recent peaks of 106.93 and 107.43. Chart created in TradingView Written by: Daniel McCarthy, Strategist Daily FX Source: Daily FX
  18. Hi @finn100 Thanks for reaching out. The IG MT4 account is separate to your normal IG account. So only trades placed using the MT4 platform will reflect on that account with no links between the accounts All the best, Anda
  19. Hi @Yt169 Thanks for reaching out, We will request our sales team to give you a call. All the best, Anda
  20. Hi @Mbutler1 Not sure If I am understanding your question correctly. However we would usually send out communications when a corporate action that requires a shareholder election. In mandatory events such as consolidations / splits we do not send out communications as they require no election. All the best, Anda
  21. Crude oil is steady through the Asian session ahead of the all-important US CPI later today. This is despite the American Petroleum Institute (API) reporting that inventory of US crude increased by 2.2 million barrels last week, a large difference from the forecast 400k decrease. The increase in stockpiles may have been offset by news that a Russian oil pipeline to central Europe had been shut down last week. The WTI futures contract is near US$ 90 bbl and the Brent contract is above US$ 96 bbl. APAC equity indices are in the red today, with Hong Kong’s Hang Seng Index (HSI) leading the way lower, down over 2%. This follows on from a mixed day on Wall Street, with the Dow and S&P 500 little moved but the Nasdaq down 1.19% in the cash session. A higher interest rate environment creates headwinds for technology stocks and the sector wasn’t helped by news that Elon Musk sold US$ 6.9 billion of Tesla stock at the end of last week. US President Joe Biden announced a US$ 52 billion subsidy for domestic chips manufacturing. He said that China actively lobbied American business groups against the bill. The Chinese property sector remains in the spotlight with Beijing announcing a review into the US$ 3 trillion trust industry by the National Audit Office. It is being reported that part of the probe will focus on the US$ 100 billion that President Xi Jinping allocated toward developing chip manufacturing capabilities. Earlier today, Chinese CPI year-on-year to the end of July came in at 2.7%, instead of 2.9% and 2.5% previously. PPI over the same period saw 4.2% appreciation, rather than 4.9% forecast and 6.1% prior. Gold is steady, trading around US$ 1,790 an ounce and currency markets have been very quiet ahead of the much-anticipated US CPI later today, and the market is looking at a softer headline expected but a softer core appears to be in store. According to a Bloomberg survey, the market is anticipating headline year-on-year US CPI to be 8.7%. Treasury yields have been relatively calm going into today’s data with the most significant move being the inversion of the 2s 10s part of the curve as it approaches -50-basis points. WTI CRUDE OIL TECHNICAL ANALYSIS The 21-day simple moving average (SMA) is approaching the 200-day SMA. If it should move below it, this would create a Death Cross which may indicate bearish momentum is evolving. Support could be at last Friday’s low of 87.01 or January’s low of 81.90. On the topside, resistance might be at the break point of 92.93, which is just above yesterday’s high. Chart created in TradingView Written by: Daniel McCarthy, Strategist Daily FX Source: Daily FX
  22. EUR/CHF made a 7.5-year low at the end of last month at 0.9699, moving below the previous low of 0.9804. Since breaking lower, the price has not managed to reclaim 0.9804 and it may continue to offer resistance. The 21-day Simple Moving Averages (SMA)is currently at that level, potentially adding resistance. Further up, the recent peak of 0.9957 might offer resistance ahead of the break point at 0.9973. In the last session, the price has crossed below the 10-day SMA and remains below the 21-, 55-, 100- and 200-day SMAs. A bearish triple moving average (TMA) formation requires the price to be below the short term SMA, the latter to be below the medium term SMA and the medium term SMA to be below the long term SMA. All SMAs also need to have a negative gradient. Looking at EUR/CHF, the criteria for a bearish TMA has been met and may indicate that bearish momentum could evolve further. Support might be at the recent low of 0.9699 or further down at the 161.8% Fibonacci Extension of 0.9638. Chart created in TradingView USD/CHF TECHNICAL ANALYSIS USD/CHF has bounced off low made at the start of this month at 0.9470 to trade in a wide range of 0.9545 – 0.9650. These levels might provide support and resistance respectively. While the price is below all short-, medium- and long-term Simple Moving Averages (SMA), they have positive and negative gradients. This may suggest a lack of conviction for directional momentum that might see further range trading. Re-iterating this possibility is the price criss-crossing the 10-day SMA. Recent history has shown that when the price crosses the 10-day SMA, momentum in that direction continues. That is not the case over the last week. The recent low of 0.9470 may provide support ahead of the break point at 0.9460. On the topside, resistance might be at the break point of 0.9710 or the July peak of 0.9886. Chart created in TradingView Daniel McCarthy, Strategist Daily FX Source: Daily FX
  23. Hi @sambennett84 Thank you for reaching out, That bit becomes relevant when you have an existing position in a particular market and are looking to trade in the opposite direction in the same market. Net off will deduct from the existing position whereas force open will keep the positions separate, effectively allowing you to hedge. All the best, Anda
  24. Hi @Dynamac Yes you should be fine to keep your ISA, no further subscriptions will be allowed. You can transfer out, but not in. All the best, Anda
  25. Hi @robinol We only offer ICE UK Natural Gas and NYMEX Natural Gas at this point. All the best, Anda
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