AshishIG
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Posts posted by AshishIG
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Asian equities rallied on Thursday, with the regional MSCI Asia ex-Japan index up 0.9%, as investors reacted to cooling US inflation data and a more hawkish Fed stance. Japanese shares underperformed as the Bank of Japan began its two-day policy meeting, with speculation it may reduce bond purchases. Markets initially rallied hard after the US CPI report showed core inflation slowing sharply. However, gains were pared after the Fed signaled just one more 25bp rate hike this year, though the Nasdaq 100 and S&P 500 both hit fresh record highs. Fed Chair Powell acknowledged inflation has eased but remains too high. He said the rate path decision was a "close call" for policymakers. Treasury yields fell initially after the CPI data but pared declines after the Fed meeting. US PPI data this afternoon will be closely-watched following yesterday's events.
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6 hours ago, asasam111 said:
Hello everyone.
I recently registered on this forum, but all my comments and posts are not moderated.
How can I increase my rating and rank?I will be grateful for your help.
@asasam111, Welcome to the community! Your posts are now live. As a new member, your first posts required moderation, but we're delighted to have you here. Feel free to share informative content and learn from the community. Please review our Guidelines to understand what details can be shared. Welcome again!
All the best,
AshishIG-
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Markets in Asia were subdued on Wednesday ahead of key US inflation data and the Federal Reserve's policy decision. China's consumer price index fell 0.1% month-on-month in May, missing forecasts, while rising 0.3% annually. This soft inflation data weighed on Chinese stocks. Technology shares outperformed in the region, boosted by Apple's 7% surge overnight after unveiling new AI features. This helped push the Nasdaq and S&P 500 to record highs. Overall caution prevailed ahead of the US CPI report, forecast to show a 0.1% monthly rise in May with core up 0.3%. The outcome could drive market moves and influence the Fed's rate outlook. Markets are bracing for the Fed to leave rates unchanged but focus on whether policymakers stick to projecting three rate cuts for 2023 or scale back that outlook given sticky inflation
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Asian stocks were cautious on Tuesday as investors assessed the political uncertainty in Europe after right-wing gains in elections and a potential snap poll in France, raising concerns over the cohesion of the European Union. The euro, French stocks, and government debt were impacted by the possibility of the far-right National Rally winning the potential snap election in France, although without a clear majority. Markets had a muted reaction to Apple's AI strategy announcement, with the company's shares declining slightly in after-hours trading. US stock futures edged lower, with markets proving resilient despite the jump in US yields and diminished prospects for Federal Reserve rate cuts this year after the strong jobs report. The Federal Reserve is expected to keep interest rates unchanged at its upcoming policy meeting, with the focus on whether it maintains projections for three rate cuts in 2023 or reduces it to two. The euro steadied after hitting a one-month low against the U.S. dollar, while the Japanese yen remained weak, raising expectations of potential bond-buying tapering by the Bank of Japan. Oil prices consolidated after a 3% rally, with expectations of strong summer demand and potential US crude purchases for its petroleum reserve.
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Investors in Europe face uncertainty over the global interest rate outlook from central banks like the Fed and ECB, as well as political shifts in the region after the European Parliament elections. French President Emmanuel Macron called snap legislative elections after his party was defeated by the far-right in the EU vote, roiling markets. The European Parliament took a shift to the right, with more eurosceptic nationalist parties gaining seats at the expense of mainstream liberal and green parties. Markets reacted negatively, with the euro falling to a one-month low against the dollar and European equity futures and French bonds declining. There is also angst over US interest rates ahead of the Fed meeting, with questions over how much they will scale back projected rate cut plans after the strong jobs report on Friday, which smashed expectations once again. The Bank of Japan meeting is also in focus, with expectations they could taper bond purchases, potentially providing relief for the weakening yen against the resurgent US dollar.
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26 minutes ago, marionie said:
Thanks
Once I establish the new account with IG Japan, how can I close the account with IG Australia?
You can just drop an email to helpdesk.au@ig.com from your registered email address requesting to cancel the account.
All the best,
AshishIG -
Can you please n log in to your Demo account using your current username and password. Then, go to settings and change the username to a different one. After making the change, you can submit a new application with the username you wish to keep.
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1 minute ago, marionie said:
Thanks, I will try that then.
However, this information is already in your system that I couldn't use this same username.
Can you erase my information?
Could you please send an email to sales.jp@ig.com with this information so that the Sales team in Japan can make the necessary changes?
All the best,
AshishIG -
58 minutes ago, marionie said:
Hi AshishiG
Thank you for getting back to me on this matter.
I understand the jurisdiction issue occurs in Australia without a valid address.
However, there is an issue creating an account with IG Japan online, as they ask to put in a full name in Japanese character (Kanji), as I don't use Japanese character in my name.
Any idea what I could do to bypass this issue?
Dear @marionie, After consulting with our Sales team in Japan, we were advised that you can apply using your English name in both Kanji and Katakana. However, the name needs to be in Zenkaku format, which means you must leave a space between each letter. For example, if the name is Ashish IG, it should be written as A s h i s h I G. To simplify this process, please visit the following link: https://so-zou.jp/web-app/text/fullwidth-halfwidth/. Enter your full name to convert it to Zenkaku format, and then use that in your application.
All the best,
AshishIG -
Today's payrolls data is highly anticipated as it will provide insights into the strength of the labour market and the case for a potential Fed rate cut. Expectations are for 185,000 jobs added in May, slightly higher than April's 175,000. A slew of recent economic data has pointed to easing labour market conditions, increasing the importance of the jobs report in reinforcing or contradicting that narrative. An upside surprise could shock markets. Investors have been betting on a potential Fed rate cut in September, following rate cuts by the European Central Bank and Bank of Canada this week. This has led to a global rally in stocks, compression of bond yields, and a weaker US dollar over the past week. However, China was an outlier, with stocks falling amid concerns over potential US. bans on Chinese battery companies tied to Ford and Volkswagen, overshadowing positive export data.
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1 hour ago, marionie said:
I was trying to open an account, living in Japan. I went to IG.com.au to open an account as I pay tax in Australia, however, I don't have an address in Australia as I live in Japan. How could I open an account??
Hi @marionie,
We understand your situation regarding residing in Japan while wanting to open an account with IG in Australia. Due to jurisdiction and regulatory restrictions, you are unable to open an Australian account without an Australian address.
However, you can still open an account with IG Japan. This will allow you to trade while residing in Japan. Visit the link to open an account with IG Japan: https://www.ig.com/jp/application-form
All the best,
AshishIG -
Asian markets rallied on Monday as investors anticipated interest rate cuts by the European Central Bank and possibly the Bank of Canada, representing global policy easing despite sticky inflation concerns. Economic data showed improvement in Chinese, Japanese and South Korean manufacturing activity, boosting sentiment. The MSCI Asia-Pacific index, Japan's Nikkei and South Korea's KOSPI posted solid gains, and European and US equity futures also climbed. The ECB is expected to cut rates by 25 basis points this week ahead of the Fed. However, higher-than-expected eurozone inflation data tempered hopes for aggressive ECB rate cuts. The Bank of Canada is also expected to cut rates at its meeting this week, with markets implying 59 bps of easing priced in for 2024. The Japanese yen remained weak against the US dollar despite massive currency intervention spending by Japanese authorities recently.
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6 hours ago, AmazinTrade said:
In IG spreadbets, is there a difference? I'm assuming there's a reason why they have separate sections
Hi @AmazinTrade, If you're talking about Deal and Order options: a Deal allows you to execute trades at the current market price, whereas an Order lets you set a specific market price at which the trade will be carried out.
All the best,
AshishIG -
15 hours ago, Racoun39 said:
My IG demo account has all of a sudden zeroed my available balance, margin and profit/loss, although there's still plenty of cash/equity and positions still open. I would like to still use this demo for my continued learning and conviction. Is there a way it can be restored?
Hi @Racoun39, I'm sorry to hear that. Have you tried adding virtual funds again to see if they reflect and then placing trades? If you're still unable to do so, we may need to investigate your Demo profile for any technical errors. Please email helpdesk.uk@ig.com if you're still experiencing issues. Apologies for any inconvenience.
All the best,
AshishiG -
6 minutes ago, andyaellis said:
Client sentiment data has been missing for almost two weeks now. It's not there for indices, FX or commodities?
Hi @andyaellis,
Thank you for bringing this to our attention. Our team is already addressing this issue and working on a solution. We apologize for any inconvenience caused.
Regards,
AshishIG -
6 hours ago, GrahamA said:
How do I download or see a report to use for UK tax returns. e.g. 5th April to 6th April each year? Showing returns, dividends, charges etc. The quarterly reports would be tricky to adapt. Thanks in advance.
Hi @GrahamA, If you have received dividends during the tax year, you will be able to view and download your CTC (Consolidated Tax Certificates) in pdf format by going to MyIG > My Account > Statements.
This statement is usually made available one or two months after the end of the UK financial year.
All the best,
AshishIG -
10 hours ago, JJJJJJJJ said:
Hi,
I am trying to buy some bonds to make my portfolio bit diverse, but my order is keep rejected.
I have no problem with buying and selling other US stocks, but I couldn't buy certain US treasury ETFs.
Why is this happening?
I couldn't buy them with limit order or even with the market orders
Does anyone know how to fix this issue?
Thank you in advance.
Hi @JJJJJJJJ, It seems like this issue is account-specific. Could you kindly send us an email from your registered email to helpdesk.uk@ig.com? This way, we can investigate further and update you on why you're unable to make a purchase and what steps need to be taken.
All the best,
AshishIG -
15 hours ago, SteveMac said:
Hi there, Just joined IG. I transferred money from a bank account, not a card, on the 2nd May to IG account but still not available in my funds? Guidance info say s 1-3 days if via a bank. Does it usually take this long? Any thoughts/feedback appreciated. Is there any one I can contact to speed this up? thanks
Hi @SteveMac, Bank transfers can occasionally take 1-3 days to reach us, while card transfers are instant. To assist you further, could you kindly send an email to helpdesk.uk@ig.com from your registered email address, along with the payment receipt? This will allow our team to check with the bank to verify if we have received it.
All the best,
AshishIG -
Asian stocks surged to their highest level in 15 months on Friday, led by gains in tech and Hong Kong stocks. The Japanese yen put more distance from its recent 34-year lows against the US dollar, capping a volatile week that saw suspected intervention by Japanese authorities to support the yen. With Japanese and Chinese markets closed on Friday, regional trading activity was subdued ahead of nonfarm payrolls data later in the day. The yen strengthened 0.43% to 152.99 per dollar on Friday, after touching a 34-year low of 160.245 on Monday. Traders suspect Japanese authorities spent roughly $60 billion to defend the yen this week. The US dollar index, which measures the greenback against six major currencies, was set for a 0.8% decline this week, its worst weekly performance since early March. The Federal Reserve left interest rates unchanged this week and signalled that its next policy move will be to lower rates, although strong inflation readings suggest the first cut could be a long time coming. In after-hours trading, Apple's stock surged nearly 7% after reporting better-than-expected quarterly results and unveiling a record share buyback program.
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1 hour ago, ROCKAPE63 said:
IM QUITE NEW HERE BUT WHY IS THE DAX 40 SPREAD 7 AND OT ITS NORMAL 1.4
CHEERS
Hi @ROCKAPE63, Due to Labor Day, EU markets are closed today. As a result, we are pricing our indices out of hours, leading to wider spreads.
All the best,
AshishIG-
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1 hour ago, andyaellis said:
Why are the spreads on the DAX and CAC four times their normal size today?
Hi @andyaellis, Due to Labor Day, EU markets are closed today. As a result, we are pricing our indices out of hours, leading to wider spreads.
All the best,
AshishIG -
16 hours ago, RobotStuPot said:
Hi there,
New to the forum and have seen similar queries related to this but not specifically for CFD/Spreadbetting.
Is there a size limit to the positions you can take? I am looking at dropping a large sum of money to start trading on the platform with and need to work out the specifics to my own risk profile.
Cheers
Hi @RobotStuPot, Each market will have a maximum size limit, which varies from one market to another. If you're looking to place larger trades, we suggest reaching out to our dealers by phone first to verify if the size you desire is feasible. If not, they can help facilitate larger trades from their end.
All the best,
AshishIG
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Key stock indices ended the day in the red on Tuesday and in after-hours trading Amazon, AMD and McDonald's had mixed results while US yields and the US dollar rose ahead of today's Federal Open Market Committee (FOMC) meeting. The main focus is on Jerome Powell's press conference and what signals he gives about future interest rate policy. The expectation is he will strike a cautious but hawkish tone on inflation, given recent economic data has challenged the Fed's soft landing scenario. On the data front are UK and US manufacturing PMIs, the US ADP's non-farm estimate, job openings, mortgage applications, EIA's inventory estimates and, of course, the FOMC monetary policy meeting at which no rate cut is expected to be announced.
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10 hours ago, blackeagle said:
Hi All,
My phone with my microsoft 2fa authenticator for IG was stolen last night, unfortunately.
I have now blocked my other phone and set the new phone/SIM in a new phone but cannot access my IG account as 2FA was set up in the other phone..
How can I retrieve my microsoft 2FA authenticator for IG in my new device?
Is removing the existing 2FA the only way? I find this ridiculous as it is exactly when your phone is stolen you need extra protection and I am hoping there is a way to do this without first removing my existing 2FA and then setting it back again. Any support would be much appreciated!
Hi @blackeagle, I'm sorry to hear about your phone being stolen. Losing access to your accounts can be very stressful. In this case, you need to remove the existing 2FA and set it up again on your new device. While this might seem inconvenient, it's an important security measure to prevent unauthorized access to your account. Please reach out to our Helpdesk for them to help disable the 2FA so that you can set it up with the new device
All the best,
AshishIG
IG Morning Call
in General Trading Strategy Discussion
Posted
A dovish Bank of Japan, which held off from any changes to its bond-buying programme, boosted Japanese stocks and weakened the yen. Other indices in Asia were weaker, as markets mulled over the outlook for the global economy. It caps a week where markets priced in at least two rate cuts from the Fed as US inflation shows signs of easing, though the Fed remains cautious. European automakers are in the spotlight after the EU imposed tariffs on Chinese EV imports, labelled protectionist by Beijing. Tesla shareholders approved Elon Musk's $56 billion pay package despite opposition from some big investors, showing his support among retail investors. Both the S&P 500 and the Nasdaq 100 have hit fresh highs this week, though the Dow continues to struggle.