AshishIG

Hi @mondrian, You can either set a trailing stop simultaneously with the initial trade (Deal) or do it later when the position is already open. However, if you're placing a working order (Orders), the deal ticket won't have the option for a trailing stop. All the best, AshishIG

Hi @Neil12, We are glad to hear that you have found IG's platform to be good! Regrettably, the default setting on Trendline is the only option available at present, and it's not possible to disable the extension on either side. Nevertheless, we'll forward your feedback to the appropriate department for evaluation, and perhaps this feature can be added in the near future. Alternatively, you can consider using the 'Point to Point' option, which provides similar functionality. All the best, AshishIG

Hi @barnabysmith, Regrettably, it is not possible to verify or modify your National Insurance number online using our platform. However, if you believe that the number you provided during the account opening process is inaccurate, you need not be concerned. Simply send us an email at helpdesk.uk@ig.com from your registered email address, and include the correct or updated details of your National Insurance number. Our Accounts team will update your information and send you a confirmation once the changes have been made. All the best, AshishIG

Hi @AM_1, We appreciate you bringing this to our attention. After checking with our IT team, we have found no evidence of any underlying problems that could be causing this issue. This can be checked at https://status.ig.com as well. To resolve this, we kindly request that you clear your browser cache and cookies, log out, and then log back in, as this should resolve the issue. We can confirm that there are currently no known issues, and if you continue to experience difficulties, it may be due to account-related issues. In that case, please send us an email at helpdesk.uk@ig.com with relevant screenshots, and our IT team will investigate further. We apologize for any inconvenience this may have caused. All the best, AshishIG

Dear @Jaywalker, We are currently working on upgrading ProRealtime to v12, which is still in the Beta phase. We will have to wait until all the tests are completed and any bugs are addressed before releasing it. Regrettably, we cannot provide an ETA at this point. However, we will keep all clients informed once the new version is ready to be added. We appreciate your patience and understanding in this matter. All the best, AshishIG

Microsoft (MSFT) will report its third fiscal quarter (Q3) 2023 results on April 25 after the market closes. What to expect and what would be the highlight? Source: Bloomberg Shares Commodities Microsoft Artificial intelligence Personal computer Revenue Hebe Chen | Market Analyst, Australia | Publication date: 23 April 2023 12:05 Microsoft Earnings Date Microsoft (MSFT) will report its third fiscal quarter (Q3) 2023 results on April 25 after the market closes. The report will cover the quarter from January 2023 to March 2023. Microsoft Earnings Expectation Revenues: $51.05 billion. 4% year-over-year growth but 4% lower than the previous quarter. EPS: $2.23, no change from a year ago and 3.8% lower than Q2. Microsoft Earnings Key Watch The shining star Out of the three business divisions, the Intelligent Cloud department has become Microsoft’s gold mine nowadays, contributing 40% of the group’s total revenue with sound and solid growth momentum. In the previous quarter, the cloud services revenue increased by 18% while the whole group’s revenue only added 2%. For the to-be-reported quarterly earnings, Microsoft anticipated revenues from the Intelligent Cloud will keep increasing at the pace between 17% and 19% to a range of $21.7-$22 billion. However, Microsoft also flagged that Azure, the cloud computing platform that which is one of the main engines of the cloud business, would slow down its growing speed by 4 or 5 percentage points to nearly 30% in the fiscal third quarter, down from 46% in the same period last year. Q2 FY23 Financial Summary: The laggard The downtrend in the global personal computing industry has accelerated in the past year. So did Microsoft’s PC business. In the six months ended December 31th, the revenue from the PC related business was down 11% YOY, while in the last three months, the yearly downfall rate was speed up to 19%. The first quarter of this year has marked the fifth consecutive quarter of global PC sales decline. As such, it's not difficult to see that this hard-to-stop slide will further falter the demand for all the product lines under the umbrella of Personal Computing. The used-to-be-proud King of the PC projected this sector's revenue for Q3 will be between $11.9 billion and $12.3 billion, indicating a 14%-17% decline from the same quarter last year. The AI Race The battlefield for the AI race has been set up and the smoke is getting intense. Microsoft seemly led the way, for now, thanks to its shared commitment with OpenAI to build generative AI systems--ChatGPT has convinced the world in 2023 that, AI will become a topping layer of technology and prompt a new generation of “platform shift”. Clearly, all the tech giants are not hesitated to go all-in in the AI race and are ready to thrive in this new age. Microsoft, despite racing inches ahead now, is facing the fiercest competition in decades. Alphabet, Google’s parent company, unveiled a similar AI function in March for Gmail, which is now used by 1.8 billion people around the world. Apple disclosed that 45% of its M&A targets are AI-related compared to Microsoft’s 23% now. In terms of the bright minds, Meta has employed 23.5% of staff with AI skills while Microsoft’s ratio is 21.8% Additionally, the ticket to the AI race is very costly. Microsoft has boosted its R&D investment in the previous quarter by 18% to 6.8 billion, which, saw its net margin fell from 36% to 30% in the September quarter. As Chairman and CEO of Microsoft Satya Nadella said in January: “The next major wave of computing is being born.” Microsoft is not shy with its ambition to be the king of the new wave, the challenge being, all its old foes are thinking the same. Microsoft Share Price Despite the bright limelight this year thanks to ChatGPT, Microsoft’s stock price didn’t enjoy extra shine compared to other tech titans. But the good news is the price has clearly bottomed out from the Nov-Jan low when the two-year-low was made. Source: IG Based on the weekly chart, the stock is currently attempting to challenge the August peak at around 291-296, a hurdle that could open the door to $300 psychological level if successfully conquered. Conversely, if the break fails, any pullback should be supported by the 100-MA to preserve the bull-biased momentum. However, a fall below this level will risk further breaching the current ascending trajectory and increase the chance of a bear-reversal. IG sentiment suggested that, by the end of April 21st, 79% of IG clients hold long positions of Microsoft. Source: IG

Hi @Yarno, IG Australia offers the opportunity to trade an IPO both before and after it is listed. In the event of high interest in a particular IPO, IG may provide a 'grey market' before the IPO takes place. This allows you to speculate on the share price of a company before it is officially listed. The price in the grey market is based on IG's forecast of the company's market capitalization at the end of its first trading day. Once the company is listed, you have the option of speculating on share price fluctuations via CFD trading or purchasing shares directly through share trading. To stay updated on upcoming IPOs, you can refer to the following link- https://www.ig.com/au/shares/ipos/upcoming-ipos Additionally, you can subscribe for IPO-related news by visiting- https://www.ig.com/au/shares/ipos/how-to-trade-ipo If available, information about the current IPO listing can be found under 'Watchlist' on the left-hand side of your IG platform. Please refer to the attached screenshot for reference. For more detailed information about IPOs, please visit- https://www.ig.com/au/shares/ipos All the best, AshishIG

Hi @Keith3, To convert an existing account to a Smart Portfolio account is not possible. The only way to have a Smart Portfolio account is by creating a new one. To do this, visit "My IG Dashboard," select "Add an account," and choose "IG Smart Portfolio" from the list. Then, submit your application. For your convenience, please refer to the screenshot provided below. If you need further information on our IG Smart Portfolio accounts, please visit our website at https://www.ig.com/uk/investments/smart-portfolios All the best, AshishIG

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 24th April 2023. These are projected dividends and are 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. The amount in brackets is the expected adjustment after special dividends are 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. 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 the full non-independent research disclaimer and quarterly summary.

Hi @Ovidas, The currency you use for funding and the markets in which you trade are determining factors. When you trade in markets with a currency that differs from your account's base currency and fund it using a different currency, currency conversion is typically necessary. This also applies when you withdraw currency that is different from the denomination of your receiving bank account or card. Example: Say you’re buying $50 per point worth of Wallstreet (US30) and the base currency of your trading account is EUR. Since you have chosen to trade in USD which is different from your base currency, we need to convert any related transactions to EUR. Our standard FX conversion fee is 0.5% which is added to the best available exchange rate provided by several banks. To add our FX conversion fee, we multiply the underlying exchange rate by 1.005 before converting. Assume the exchange rate is 1.3176 (EUR 1 equals $1.3176). After adding our conversion fee of 0.5%, we get a conversion rate of 1.3176 x 1.005 = 1.3242*. If Wallstreet increases by 15 points, your profit will be $750. This will be reflected as $750/1.3242 = EUR 566.38 on your account. To calculate the admin fee charged, multiply your profit by 0.5%: EUR 566.38 profit x 0.5% = EUR 2.38 FX conversion fee (already included – not charged separately) *All examples are for illustrative purposes only. Please check the costs and charges before trading. Figures may not add up to a given total due to rounding. By default, CFD accounts are set to ‘instant’ conversion. This means we automatically convert any realized profit, loss, funding, dividend adjustments, or commission to your base currency. *To view and change your currency conversion settings for spread betting and CFD accounts, you can follow the steps below: 1. Using a web browser, log in to your My IG dashboard 2. Select ‘live accounts' 3. Choose the relevant spread bet or CFD account from the drop-down menu 4. Select ‘currency conversion’ 5. Change your settings as you wish All the best- A.B

Please find our expected trading hours for Memorial Day (US) / Spring Bank Holiday (UK) in the table below. All times BST: Monday 29 May US Markets US equity markets will be closed. US index futures will close early at 6 pm. We’ll be making an out-of-hours price on Wall Street, US 500, US Russell 2000, FANG Index, and US Tech 100 from 6 pm until futures reopen at 11 pm. US interest rates and bonds close early at 6 pm. US soft commodities are closed. US metals and energies close early at 7.30 pm. The VIX closes early at 4.30 pm and reopens at 11 pm. UK Markets UK equity markets and index futures will be closed. We will offer out-of-hours pricing on the FTSE 100. UK commodities are closed, apart from Brent Crude, ICE WTI, and London Gas Oil futures which close early at 6.30 pm. UK interest rates and bonds are closed. More resources are below for your reference: UK: Equities: https://www.londonstockexchange.com/securities-trading/trading-access/business-days Indices and Rates: https://www.theice.com/publicdocs/futures/Trading_Schedule_Migrated_Liffe_Contracts.pdf Commodities: https://www.theice.com/publicdocs/Trading_Schedule.pdf LBMA Fix: https://www.theice.com/publicdocs/Gold_Holiday_Calendar_2023.pdf US: Equities: https://www.nasdaq.com/market-activity/stock-market-holiday-schedule and https://www.nyse.com/markets/hours-calendars Commodities (CME) / Rates / Energies / Indices: https://www.cmegroup.com/trading-hours/files/memorial-day-2023.pdf Commodities (ICE): https://www.ice.com/publicdocs/futures_us/exchange_notices/ICE_Futures_US_2023_MemorialDayHoliday_20230315.pdf VIX: https://www.cboe.com/about/hours/us-futures/

Hi @Dylan081097, We acknowledge that there has been a considerable delay in rolling out the integration with Tradingview, and we are exerting our utmost efforts to make it happen. Our team is aware of the numerous inquiries about this matter and is striving to expedite the launch. Regrettably, we cannot provide a definite ETA at this time. Nevertheless, we will keep you informed by sending notifications and posting updates on our website and community page. All the best, AshishIG

Hi @Mikey, Thank you for reaching out. Our Desk has confirmed that the Mid-price at 4 pm UK time will be used to calculate the basis + funding. I apologize for any confusion caused by our earlier communication regarding the timing and numbers. In this case, The May contract closing price at 4 pm UK time on 10th April was 2146, denoted as P2 price, while the June contract closing price at the same time was 2337, denoted as P3 price. Here is the calculation: Basis = (2337-2146)/31= $6.1613 IG charge = (2146*2.5%)/365= $0.147 Adjustment = (1x$10) x ($6.1613-$0.147)= $60.143 which will be the overnight fee. Hope this clarifies your doubt. Regarding your second question, we do not offer undated/daily contracts for commodities if there is no future price available. Since we only have the May contract price available for Carbon Emissions, there are no undated contracts available at this time. All the best, AshishIG

Hi @MisterC, Could you kindly inform us which order book you are mentioning? In case you need information regarding the currently active orders, you may navigate to the "Orders" tab located on the platform's left-hand side. For order history, you can either select "History" or go to "My IG" > "Live accounts" > "History." We have provided screenshots for your reference. If you are inquiring about something different, please inform us, and we will assist you accordingly. All the best, AshishIG

Hi @nickpr, That is correct. If you open an IG Smart Portfolio account with a minimum investment of £15000, you will not be charged any custody fees for your Share Dealing and ISA accounts. This exemption will be applied automatically. To learn more about our Smart Portfolio accounts and associated charges, please follow the link provided: https://www.ig.com/uk/investments/smart-portfolios All the best, AshishIG

Hi @telescope, To maintain an active ISA account with us, you are not required to maintain a minimum cash balance. In case you do not have any open positions, you will not be charged any fees. However, you need to subscribe every year for Tax in order to keep the account active. If you fail to do so, your account will be suspended. Our flexible shares ISAs allow you to subscribe with any amount to keep your account active. If you do not trade and do not have any active positions, you will not be charged any fees. However, if you hold any open positions, you will be subject to our commission and custody fee. For more information on our charges, please refer to this link - https://www.ig.com/uk/investments/share-dealing/costs-fees. Here are a few additional links that might help: 1. https://www.ig.com/uk/help-and-support/investments/share-dealing-and-isas/what-types-of-isas-do-you-offer 2. https://www.ig.com/uk/help-and-support/investments/share-dealing-and-isas/how-much-can-i-deposit-in-a-cash-isa-and-a-stocks-and-shares-isa All the best- AshishIG

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 17th April 2023. These are projected dividends and are 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. The amount in brackets is the expected adjustment after special dividends are 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. 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 the full non-independent research disclaimer and quarterly summary.

Hi @AlexGr, If you have a position in your ISA account, any income and dividends earned will be added to your ISA account. Once we receive dividend payments, we will credit your account with the eligible amount. This usually happens on or around the dividend payment date, but it may take a few days after that for us to credit your account. This is because the dividends are first paid to our broker and need to be cleared before they can be transferred to IG. For more information, please refer to the following link: https://www.ig.com/uk/help-and-support/corporate-events-and-dealing/corporate-action-events All the best- AshishIG

Hi @imfrodo, The default view of the history tab on your My IG dashboard should resemble the image below, and there is no option to modify it. In case you cannot see the history tab and it appears as a blank page, we recommend trying to clear your cookies and cache, logging out, and then logging back in to see if it resolves the issue. If you still encounter the same problem, kindly send an email to our helpdesk at helpdesk.au@ig.com, and attach a screenshot of your My IG dashboard's history page. Our IT team will investigate and address the issue. We apologize for any inconvenience this may have caused. All the best- AshishIG

Hi @Mikey, Prices for commodity cash CFDs are synthetically created using the two most liquid futures contracts. This will result in a natural movement between these two contract prices and will be included in overnight funding adjustments. You’ll then either be debited or credited depending if you’re long or short, and whether the next future contract price is higher or lower. Commodity funding is based on the market cost of carry, plus an admin fee of 2.5% per annum. Please note that open positions held through 10 pm (UK time) on Fridays will be adjusted for three days’ worth of funding to cover the weekend. There are three steps to this formula: 1. Basis (the daily movement along the futures curve) (P3 – P2) ÷ (T2 – T1) T1 = expiry date of the previous front future T2 = expiry date of the front future P2 = price of front future P3 = price of next future 2. IG charge Price x 2.5% ÷ 365 3. Adjustment (Number of contracts x value per contract) x (basis + IG charge) Example: Let's say you are short one $10 contract on Natural Gas on 10th April 2023. T2 – T1 = 31 days (25th April 2023 till 25th March 2023) P2 price is 2171 (Closing price for May contact on 10th April) P3 price is 2366 (Closing price for June contract on 10th April) Basis = (2366 – 2171) ÷ 31 = $6.2903 IG charge = 2171 x 2.5% ÷ 365 = $0.1487 Adjustment = (1x$10) x ($6.2903 - $0.1487) = $61.416 **$61.416 will be credited to your account as will be short, and the next future contract was higher than the front contract. If you need further information or clarifications, please reach out to helpdesk.uk@ig.com. All the best- AshishIG

Find our trading hours for International Workers Day & King Charles III’s Coronation in the table below. All times BST: Monday 1 May International Workers Day European, UK, Hong Kong & South African equity markets will be closed. We will offer out-of-hours pricing on European, UK, Hong Kong, and South African indices until 10 pm. UK commodities (apart from Brent Crude and London Gas Oil) will be closed. European and UK rates and bonds will be closed. New York Cocoa, New York Coffee, and New York Sugar will open later at 12.30 pm. Monday 8 May Coronation Day UK equity, index, and commodities markets (apart from Brent Crude and London Gas Oil) will be closed. New York Cocoa, New York Coffee, and New York Sugar will open later at 12.30 pm. More resources are below for your reference: EU: Indices / Rates / Bonds: https://www.eurex.com/ex-en/trade/trading-calendar/holiday-regulations and https://live.euronext.com/resources/trading-hours-holidays Equities: https://www.euronext.com/en/trade/trading-hours-holidays and https://www.nasdaq.com/market-activity/stock-market-holiday-schedule UK: Equities: https://www.londonstockexchange.com/securities-trading/trading-access/business-days Indices / Rates / Bonds: https://www.theice.com/publicdocs/futures/Trading_Schedule_Migrated_Liffe_Contracts.pdf Commodities: https://www.theice.com/publicdocs/Trading_Schedule.pdf LBMA Fix: https://www.theice.com/publicdocs/Gold_Holiday_Calendar_2023.pdf US Commodities: https://www.ice.com/publicdocs/futures_us/exchange_notices/ICE_Futures_US_ExNotDelayedOpensMay20230309.pdf Hong Kong: https://www.hkex.com.hk/Services/Trading/Derivatives/Overview/Trading-Calendar-and-Holiday-Schedule?sc_lang=en (scroll all the way down) South Africa: https://clientportal.jse.co.za/Content/JSE%20Trading%20Dates%20and%20Calendars%20Items/JSE%20Market%20Notice%2051122%20All%20Markets%20-%20JSE%20Markets%20Calendar%202023.pdf

Minutes from the March FOMC meeting will be released on Thursday at 4 am AEST. Source: Bloomberg Indices Technical analysis S&P 500 Inflation Federal Open Market Committee Nasdaq Tony Sycamore | Market Analyst, Australia | Publication date: Wednesday 12 April 2023 11:34 Key dates Minutes from the March FOMC meeting will be released on Thursday at 4 am AEST. The more cautious tone at the March FOMC meeting and the economic data that has transpired has the market pricing in a 70% chance of a 25bp rate hike for the FOMC May, followed by ~100bp of rate cuts priced into early 2024. “Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation. The extent of these effects is uncertain. The Committee remains highly attentive to inflation risks.” Expectations that the Feds rate hiking cycle is close to ending and that rate cuts are looming in the second half of 2023 have played a large part in the rally in US equities from the lows of mid-March. However, with inflation data due tonight for March and more than capable of upending current market pricing, the outlook for US equities is finely balanced at current levels. S&P 500 technical analysis In recent sessions, the S&P 500 stalled ahead of the top of its 3800-4200 range. While we can’t rule out a brief false break higher, we see the 4200 area as the right area to lighten exposure looking for a retest of the bottom of the range at 3800ish in the months ahead. Aware that should the S&P 500 see a sustained break above 4200 (three daily closes above 4200), it would likely see it extend its rally to the August 4327 high with scope towards 4500. S&P 500 daily chart Source: TradingView Nasdaq technical analysis After a rampaging run higher during March and the first quarter of 2023, the Nasdaq last week posted a loss of momentum or “reversal candle”, which set the scene for a pullback over the past week. If the Nasdaq were to see a break of support 12900/12800, it would likely signal a deeper pullback is underway towards 12,400. However, should the Nasdaq hold support and then break above last week’s 13,348 high, it would set up a retest of the August 13,740 high. Nasdaq daily chart Source: TradingView Dow Jones technical analysis Last week the Dow Jones extended its rebound for a third week and is now eyeing significant downtrend resistance at 34,000 (from the bull market 36,952 high). At least in the initial instance, we expect this downtrend line to cap with scope for a retracement back to the 200-day moving average at 32,500. Aware that should the Dow Jones make a sustained break above 34,000, it opens a test of the 34,712 high from December 2022 with scope to a 35,492 high from April 2022. Dow Jones daily chart Source: TradingView TradingView: the figures stated are as of April 12th, 2023. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation

Following the release of US jobs data on Friday night, the next important set of jobs data is the Australian Labour Force report for March, released Thursday morning at 11.30 am AEST. Source: Bloomberg Forex AUD/USD Australian dollar United States dollar Moving average Technical analysis Tony Sycamore | Market Analyst, Australia | Publication date: Wednesday 12 April 2023 10:22 The release of US Employment data on Friday night confirmed that the pace of employment growth in the US was in line with expectations. The slowest pace of job growth since December 2020 was topped off by average hourly earnings which increased by 4.2% YoY in March, its smallest increase since June 2021, supporting the idea that the Fed is very close to ending its tightening cycle. The next important set of jobs data for traders is the Australian Labour Force report for March, released Thursday morning at 11.30 am AEST. What is expected? After declines in December (-16.6k) and January (-10.9k), employment bounced back in February, increasing by +64.6k. With holiday period seasonal volatility now in the rear vision mirror, the market is looking for a +20k rise in jobs and for the unemployment rate to rise to 3.6% in March from 3.5% in February. What would constitute a surprise? The market will look for evidence of moderation in the labor market (as viewed in the US last Friday night) to support market pricing that the RBA’s rate hiking cycle will remain on hold. To this effect, should the unemployment rate print at 3.7% or higher, it would be a good guide that the RBA will stay on the sidelines in May (pending Q1 inflation data) and spark further conversation around RBA rate cuts in the second half of this year. However, this would be a small negative for the AUD/USD. Conversely, should the unemployment rate print at 3.5% or lower, and if Q1 2023 CPI data (released on April 26th) is hotter than expected, it would likely force the RBA to lift the cash rate again by 25bp to 3.85% as early as its May meeting. In turn, this would be a small net positive for the AUD/USD. Australian employment rate chart Source: Trading Economics AUD/USD technical analysis Last week the AUD/USD closed 0.24% lower at .6669, weighed on by the RBA’s pause and mounting expectations of a 25bp rate hike from the Fed at its May meeting, not to mention global growth slow-down concerns. Besides the brief pre-RBA short squeeze earlier this month, the AUD/USD has spent the past six weeks trading below the 200-day moving average without really building on the downside momentum it gained in early March. Nonetheless, unless the pair were to see a break above the 200-day moving average at .6746 and above the early April .6794 high, we will remain with the negative bias looking for a move towards .6500c. AUD/USD daily chart Source: TradingView TradingView: the figures stated are as of April 12th, 2023. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation

The lead-up to the US CPI release later today set the stage for some cautious trading overnight, with major US indices ending the day mixed on lower-than-usual volume. Source: Bloomberg Forex Indices Consumer price index Inflation /business/market_index United States Yeap Jun Rong | Market Strategist, Singapore | Publication date: Wednesday 12 April 2023 07:33 Market Recap The lead-up to the US Consumer Price Index (CPI) release later today set the stage for some cautious trading overnight, with major US indices ending the day mixed on lower-than-usual volume. The outperformance in value sectors (energy +0.89%, financials +0.85%) compared to growth sectors (communication services -0.42%, technology -1.03%) overnight seems to reflect some positioning for upside risks to inflation, with the trend that value stocks tend to be preferred during inflationary periods. The VIX has also seen a last-hour surge on increased hedging activities. Current expectations are for US headline CPI reading to moderate sharply to 5.2% year-on-year (YoY) from previous 6%, but with higher oil prices setting the stage for some inflationary pressures ahead, more attention could revolve around the core inflation aspects. Month-on-month, core CPI is expected to head lower to 0.4% from previous 0.5%, but year-on-year expectations are for a tick higher to 5.6% from previous 5.5%, overall forming a mixed bag. Any higher-than-expected inflation print could lay the ground for another 25 basis-point rate hike in June from the Federal Reserve (Fed), with the hawkish recalibration in rate expectations likely to support higher US dollar and weaker equities (growth). The higher highs/higher lows narrative remains intact for the Nasdaq 100 but the index is hovering at a key Fibonacci confluence zone, which will serve as immediate resistance to overcome. A bearish divergence on moving average convergence/divergence (MACD) suggests abating upward momentum, with sentiments on hold for further cues on the fight against inflation. Any retracement may still leave the formation of a higher low on watch. On the upside, any successful move above the Fibonacci confluence zone may pave the way for a retest of its August 2022 high. Source: IG charts Asia Open Asian stocks look set for a slight positive open, with Nikkei +0.33%, ASX +0.53% and KOSPI +0.34% at the time of writing (8.30am SGT). Lower-for-longer growth outlook seems to be the takeaway from the International Monetary Fund (IMF) yesterday. Its global economic growth forecasts for this and next year have been revised lower by 0.1%, with the forecasts based on the assumption that the recent financial sector stresses are contained. Further knock-on impact will likely surface over the coming months, with tighter lending standards potentially reflected in weaker consumer spending and lower firms’ investments. Japan’s March producer price index (PPI) came in slightly higher than expected at 7.2% this morning, but the sharp moderation from previous 8.2% could help in limiting the cost pass-through to consumers. Nevertheless, a shift in the Bank of Japan (BoJ) policy remains a question of not if but when, although we have seen a pushback in expected timeline from July this year to potentially only in 2024. The USD/JPY is attempting to push above its current consolidation range, with higher lows on MACD reflecting building upward momentum. Much will revolve around the US CPI data to provide the go-ahead for further upside. However, a series of resistance ahead may likely push back against a renewed bull trend for the pair, particularly at the 138.00 level. This is where a 38.2% Fibonacci retracement level stands in coincidence with its key 200-day moving average (MA). Source: IG charts On the watchlist: EUR/USD nears February high ahead of US CPI release After a brief consolidation last month, the bulls have retained control of the EUR/USD, with the pair heading near its February high at the 1.100-1.103 level. While broad expectations are for the Fed to deliver one last 25 basis-point rate hike in May, the European Central Bank (ECB) is expected to keep hiking. Market pricing is for three more 25 basis-point moves over the next three meetings from the ECB, with the potential diverging policy path supportive of EUR/USD’s upside. That said, much will surely hinge on the US CPI data later to convince market participants that a Fed hike in June will not be needed. For now, the 1.100-1.103 level will be a strong resistance to overcome, which marked a bearish shooting star candle on the weekly chart. Overcoming this level could be on watch to support further upside to the 1.128 level. On the other hand, failure to cross the level could bring several support lines in sight, which include an upward trendline and a Fibonacci level at 1.061. Source: IG charts Tuesday: DJIA +0.29%; S&P 500 -0.00%; Nasdaq -0.43%, DAX +0.37%, FTSE +0.57%

Hello @HLau, it's important to be aware that options have an expiration date. In the case of daily options, this happens at the end of the trading day when you initiate your trade. As a result, there won't be any overnight funding charges for option trading. This rule also extends to weekly, monthly, and quarterly options. For more details, please refer to the link- https://www.ig.com/en/options-trading All the best, AshishIG