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Charting the Markets: 16 August Stock indices continue to slide on China growth worries and bank downgrades. Small gains for AUD/USD and EUR/JPY but EUR/GBP probes trendline support. And WTI, gold and copper prices try to hold near support. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Wednesday 16 August 2023 11:54

Outlook on WTI, gold and copper amid China demand concerns. Source: Bloomberg Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Wednesday 16 August 2023 11:39 WTI slide found support WTI’s around 2% slide on Tuesday on concerns over weak Chinese demand and stronger-than-expected US retail sales data seems to have short-term ended slightly above the minor psychological $80.00 mark on Wednesday morning. The solid US data stoked fears that the Federal Reserve (Fed) could keep interest rates higher for longer, likely negatively impacting economic growth and reducing energy demand in the world’s top oil consumer. While the breached June-to-August uptrend line, now because of inverse polarity a resistance line, at $82.26 isn’t bettered, short-term downside pressure in the oil price is likely to prevail. A fall through last week’s low at $79.69 would engage the early August low at $78.54. Source: ProRealTime Gold descent pauses near support The one-month decline in the price of gold seems to have found interim support slightly above the $1,893 June low and is now flirting with the 200-day simple moving average (SMA) at $1,906. Further potential resistance comes in along the July-to-August downtrend line at $1,908. While below it, overall downside pressure should retain the upper hand, though. A fall through the June low at $1,893 would put the mid-March low at $1,886 on the map. Source: ProRealTime Copper seems to have found interim support The copper price, which has been in a downward trajectory since its $8,859 per ton early August high on China growth concerns, seems to have found interim support marginally above its $8,142 late June low. A minor bounce towards the July and 8 August lows at $8,236 to $8,277 may ensue over the next few days but the medium-term trend nonetheless remains bearish. A fall through the $8,142 late June low would push the May trough at $7,867 to the fore. Source: ProRealTime

CPI growth decelerates to 6.8% as expected The UK consumer price index rose 6.8% in July year-over-year (YoY), in line with expectations. Also in line is the retail price index, which is up by 9% YoY. Shares Commodities Consumer price index Federal Open Market Committee Federal Reserve Price Jeremy Naylor | Analyst, London | Publication date: Wednesday 16 August 2023 09:07 APAC equity markets Asia Pacific region (APAC) equity markets traded lower on Wednesday, following the lead of US indices. US banks led the declines as investors are concerned about a possible credit rating downgrade by Fitch. Reserve Bank of New Zealand As expected, the Reserve Bank of New Zealand kept its interest rate on hold for a second consecutive month. The Official Cash Rate remains at 5.5% and should do so. "for the foreseeable future to ensure annual consumer price inflation returns to the 1% to 3% target range," according to the Reserve Bank of New Zealand (RBNZ) statement. The Reserve Bank of New Zealand continues to forecast the official cash rate to peak at its current level of 5.5% with some upside risk of another hike, and, conditional on its central economic outlook, the cash rate would need to remain at around its current level for longer than was assumed in its May statement. Federal Open Market Committee The markets also await Federal Open Market Committee (FOMC) minutes on Wednesday evening. At its last meeting, the Federal Reserve raised its interest rate target by a quarter of a percentage point to a range of 5.25%–5.5%. This was the 11th in its last 12 meetings, to a level last seen in 2007. Regarding upcoming decisions, Jerome Powell left the door open. The Federal Reserve (Fed) Chair made no promises either way, with a September meeting considered. "live" for another rate increase. UK CPI In the UK, the consumer price index rose 6.8% in July year-on-year (YoY), in line with expectations. Also in line is the retail price index, which is up by 9% YoY, Aviva posted a group operating profit up 8% to £715 million. General Insurance General Insurance gross written premiums rose 12% to £5.27 billion. The insurer announced an interim dividend of 11.1 pence, up 8%. Over in the US, Target is due to report earnings before the US opening bell. The street expects earnings of $1.47 per share, a substantial improvement on the 39 cents recorded in the same quarter a year ago. Revenue, however, is anticipated to be lower than a year ago, at $25.33 billion. This will be the first drop in sales in three and a-half years. Cisco After market close, Cisco their stock has performed rather well over the past few months, on an ascending trend since its October 2022 lows. And the earnings expected tonight reflect this performance. Analysts anticipate earnings of $1.06 per share, which would be a 27.7% increase on the same quarter a year ago. Revenue is seen rising 15% to $15.05 billion. Oil overview Oil prices lost about two dollars in 24 hours. West Texas Intermediate (WTI) and Brent fell on the back of the latest China data. Lower than expected industrial output and retail sales reignited concerns around China's oil demand. On Tuesday evening, the latest data from the API showed a 6.2 million barrel drop in crude oil stocks. Gasoline inventories rose by 700,000 barrels, and distillates fell by 800,000 barrels. This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.

After yesterday's poor session in the US and Europe, there were more losses for Asian markets, where the Hang Seng and the Nikkei took the brunt of the selling. UK inflation slowed for yet another month, rising 6.8% in July compared to June's 7.9% and falling 0.4% month-on-month. This offers some relief for the Bank of England, although the figures are still too high compared to the target figure of 2%. Today's other major event will be the minutes of the latest Fed meeting. Futures point to a weaker open in Europe, but selling in the US appears to have stalled for now.

Hi @Mimi, Thank you so much for your patience in this regards, I have now consulted with all the relevant teams. The fee applied on the sale of US equities is the SEC fees (Section 31 fee) as mentioned previously. Please note that this fee only appears in the transactions history and not income summary as the income summary only shows dividends received and the withholding tax applied. All the best, -KoketsoIG

Look Ahead 16/8/23: RBNZ rates; FOMC minutes; UK consumer price data; Target, Cisco Systems earnings The Reserve Bank of New Zealand is expected to keep rates on hold, while the US Federal Reserve releases its latest minutes. In the UK, sterling is likely to be in focus with the release of consumer and retail price data. Forex United States United Kingdom China Inflation Central bank Angeline Ong | Financial Analyst, Presenter and Content Editor, London | Publication date: Tuesday 15 August 2023 14:59 (Video Transcript) Rocky time for NZD/AUD Hello, I'm Angeline Ong and this is IGTV. Welcome to Look Ahead to 16 August 2023. Now, central banks swing into action again, this time in New Zealand. We're expecting the Reserve Bank of New Zealand (RBNZ) rate decision and rates are expected to remain at 5.5%. Just looking at the Australian dollar versus the New Zealand dollar, there's plenty of volatility. It has been range-bound, as you can see here, between the 9147 level and the 9316. However, this cross got a bit of a lift because of the surprise policy easing in China, which then spurred hopes that we could see more meaningful stimulus on the way. The cuts in key rates there also prompting concerns, that if Beijing held back on fiscal spending to get demand going, things could get progressively worse for its economy. China is, of course, closely watched by Australia and New Zealand because it's the major driver of prices for their resources. UK wages rocketing To the UK now, where we have the Consumer Price Index and also the Producer Price Index expectations, negative 1.3% year-on-year, and we also have the Retail Price Index to boot as well. The UK is a closely watched the economy because cable is one of the most traded financial instruments on IG. We saw a slight lift there, let's check by how much. Actually, it's now up around a tenth of a percent. It's given back some of those gains earlier because data shows British wages grew at a record pace in the second quarter. Now, all this is adding fuel to the expectation that the Bank of England's inflation fight isn't over. However, gains were capped and those concerns were capped by some signs of a cooling labour market. We saw earlier data from the Office for National Statistics (ONS) showing that wages, excluding bonuses, were 7.8% higher than a year earlier in the three months to June. This was the highest annual growth rate since comparable records began in 2001. US housing stats expected To the Eurozone, and we've got industrial production numbers and also, from the US, keep an eye out on building permits and housing stats for July. We also have industrial production figures, which will be key reading because that, not only gives us a snapshot of what's happening to manufacturing in the US, but also consumption out of places like China, like in Asia. And the Energy Information Administration's (EIA's) crude oil inventories will be one to watch as well, given there's been so much volatility in the oil space. Uncle Sam is looking strong Of course, the set piece out of the US will be the Federal Open Market Committee (FOMC) minutes. And just pulling up the Euro versus the US dollar there, the FOMC minutes will give us an indication of whether policy makers in the US still think inflation is a really big problem. Recent data have shown surprising resilience in the US economy. We've seen that China has had weakening data, but the US still showing that it has a robust labour market, and also inflation is still quite high there. On the UK, look out for earnings from Aviva, Admiral and Balfour Beatty is also out with first half numbers, whilst the retail focus continues in the US. We've just had numbers out from Home Depot, but tomorrow we'll have numbers from Target second-quarter results there, along with fourth-quarter numbers from Cisco Systems. For more videos from us here at IGTV, join us on Twitter at IG.com, Instagram and subscribe to our YouTube channel. Thanks for watching. See you soon.

Hi @cate, Thank you for your patience. Please note that the relevant team is currently working on amending the worked example and it should be more clearer by the end of business today. All the best, -KoketsoIG

Charting the Markets: 15 August FTSE 100, Dow and Hang Seng all come under pressure. EUR/USD, GBP/USD recover from multi-week lows while USD/JPY surges ahead. And Brent crude oil recovers on China MLF cut while wheat and OJ prices remain under pressure. Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 15 August 2023 12:03

UK wage growth hits a record in June, putting more pressure on the BOE In the UK, the unemployment rate unexpectedly rose in June to 4.2%, economists had expected the rate to remain at 4%. Unemployment in the UK is back to levels not seen since October 2021. Forex Unemployment United Kingdom Economic growth China United States Jeremy Naylor | Analyst, London | Publication date: Tuesday 15 August 2023 09:19 US indices US indices closed higher on Monday, led by the tech sector. NVIDIA rose 9%, and AMD ended the session 5% higher. Japan overview In Japan, the Nikkei traded higher as the economy grew much faster than expected in the second quarter, gaining 1.5%, much bigger than median estimates of 0.8%. A performance due to a brisk rebound in exports. Exports expanded 3.2% in the second quarter, led by car exports as Japanese automakers benefited from a weaker yen. Chinese economy overview In China, an array of economic indicators released this morning show that the World's second-largest economy has slowed further. Industrial output rose 3.7% from a year earlier, a slower rate than the 4.4% in June and below expectations for a 4.4% increase. The People's Bank of China Retail sales rose 2.5%, down from a 3.1% increase in June and missing analysts' forecasts of 4.5% growth. The unemployment rate rose one notch to 5.3%. Less than an hour before the release of a batch of July data, the People's Bank of China (PBOC) cut its one-year marginal lending facility rate (MLF) for the second time in three months by 15 basis points to 2.5%. UK unemployment In the UK, the unemployment rate unexpectedly rose in June to 4.2%. Economists had expected the rate to remain at 4%. Unemployment in the UK is back to levels not seen since October 2021. UK GDP Average hourly earnings, including bonus growth, accelerated in June to 8.2%. After the gross domestic product (GDP) figures reported last week were better than expected and consensus was firmly in favour of more rate hikes, But whether or not 50bps is back on the table or the Bank of England (BOE) might communicate a less aggressive stance moving forward is up to the CP| to figure out. tomorrow. ZEW At 10 a.m. in Germany, ZEW (Zentrum für Europäische Wirtschaftsforschung) economic sentiment is expected to remain at -14.7 in August. US retail sales Also, a few indicators are scheduled in the US. retail sales are forecast to rise by 0.4% in July MoM. Then at 3 p.m., The National Association of Home Builders (NAHB) housing market index is expected to remain at 56 in August, and business inventories are seen rising by 0.1% in June month-over-month (MOM). Legal & General On the equity market, Legal & General reported an above-forecast operating profit of £941 million in the first half and said it was on track to meet its five-year ambitions. Marks & Spencer said the first 19 weeks of the year have seen continued market share growth in both the clothing and home and food businesses. Just Group Just Group posted an underlying operating profit of £173 million, up 154%, driven by significantly higher new business profits. Home Depot Over in the US, Home Depot is set to report at 11 a.m. UK time on Tuesday. Like other do it yourself (DIY) chains, Home Depot is going through tough times. After benefiting from an increase in spending during the pandemic, Home Depot is now having to deal with a slowdown in consumer spending, aggravated by high inflation, which forced consumers to prioritise essential goods such as food and energy. Adjusted earnings per share (EPS) is estimated to drop 11.7% to $4.46. Revenue is forecast to fall by nearly 4% to $42.2 billion. This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.

Hi @Mimi, Thank you for your response. Please note that when selling US equities, there is a 0.00229% US on exchange fee that applies. This charge appears on your transactions history (statements) as " Section 31 fee" and is not included in the income summary for tax reporting. With regards to withholding this rate on the sale of shares on behalf of the IRS, I will provide an update when I have received feedback from our tax team. Apologies for the delayed response and I appreciate your patience in this regards. Talk to you soon, KoketsoIG

Hi @cate, Thank you for your post. We would like to apologise for the delayed response. Please be informed that the team concerned will be making changes to the example soon. Thank you so much for bringing this to our attention. We will provide an update once the page has been amended. Have a great day, KoketsoIG

Watch wheat, corn, soy price volatility, rising Black Sea tensions Chicago wheat, soybeans, and corn lost ground and bounced back as a Russian warship’s firing of warning shots at a cargo ship in the Black Sea region heightened concerns over world supplies. Shares Commodities Wheat Soybean Futures contract Chicago Angeline Ong | Financial Analyst, Presenter and Content Editor, London | Publication date: Monday 14 August 2023 12:16 IGTV financial analyst @AngelineOng takes a look at which direction sentiment is blowing for these agricultural commodities. (Video Transcript) We're seeing lots of volatility in Chicago Wheat and also soybeans and corn. Giving you the charts in just a moment. But the reason for this volatility is after a Russian warship fired warning shots at a cargo ship in the Black Sea region. And all this is feeding into concerns the world supplies. Chicago Wheat Let's have a look at the chart. Now, this is Chicago wheat there. As I mentioned earlier, a lot of the volatility has come down slightly, but we are still seeing that Chicago Board of Trade, the financial instrument, they're adding some 0.45%. Corn That's 0.45% now. Checking in on corn for you as well. This is a picture there for core similar to wheat. We have seen some of that volatility come off. Soybeans Now, how about soybeans? Here we are, soybeans on the platform. Same picture there. However, we're still seeing a gain of more than 1%. The Russian warship, which fired the warning shots, there hasn't been any indication yet as to what its intentions were. But we do know that this was the first time that Russia has fired on merchant shipping beyond Ukraine since exiting a landmark U.N. brokered Green Deal last month. Commodity Futures Trading Commission So where is the salad dressing? How do we read and filter this information? Well, I can tell you that the Commodity Futures Trading Commission has weekly commitments of a trader's report. Also show that noncommercial traders, a category that includes hedge funds, have increased their net short positions in sea wheat and cut their net long position in soybeans.

Charting the Markets: 14 August FTSE 100 hit by selling, but DAX and Nasdaq 100 show signs of stabilising. Dollar strength lifts USD/JPY back to July highs while EUR/USD and GBP/USD remain under pressure. Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 14 August 2023 12:05 And gold and silver higher, while oil prices look to move upwards again.

Foxconn, the world’s biggest contract electronics maker, has added to the souring consumption outlook from the tech sector. Shares Foxconn Baidu Alibaba Group JD.com iPhone Angeline Ong | Financial Analyst, Presenter and Content Editor, London | Publication date: Monday 14 August 2023 11:45 IGTV financial analyst @AngelineOng investigates what the recent guidance from the Taiwanese manufacturer, Apple, Alibaba, JD.com, and NVIDIA tell us about the global economy in the second half. (Video Transcript) Foxconn Q2 profits Just keeping an eye on Apple, which is an old session stock on IG. This is after mega Apple supplier Foxconn said Q2 profits slipped 1% and downgraded its annual sales outlook. Apple stock Now, just taking a look at Apple's stock because it has risen, as you can see there. But that pattern is really kid has dropped off and that is also due in part to Apple's results and outlook which indicated soft demand for its latest iPhone and weakness in the global economy. Foxconn However, this number from Foxconn is terribly important because the Taiwanese company is the world's biggest contract electronics maker. And when it makes that sort of comment, the world of investing lessons. Now, the group or the unit in Foxconn, which includes smartphones and makes up about half of Foxconn's total revenue while this division is expected to report sales that slightly will fall year on year in the third quarter. Baidu and JD All this, of course, feeds into this slow down picture, just showing you a picture of Baidu and JD in a moment. As you can see that these stocks have also tipped slightly lower. So, you are there a similar picture and it has come down. Both JD and Baidu's shares fell after Beijing's recent economic support measures failed to lift stocks like Alibaba and Baidu and JD Chip stocks across the board also fell. Japan in Japan's chip makers and chip related stocks fell early in the session. So where is the salad dressing now? If we don't see more support measures come through to boost demand, especially in China, we could see a continuation of weak consumption for tech goods makers going into the second half.

Commodity prices have been given some respite from the stronger dollar, and precious metal bulls will be hoping for a change in trend from recent losses. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 14 August 2023 11:06 Gold edges higher The price has moved slightly higher this morning, halting the run to the downside for now. A close above $1930 would still be needed to suggest that the buyers have managed to wrest some control back from sellers. The zone around $1900 may continue to provide support, but a close below the 200-day SMA would certainly contribute to the negative medium-term view. Source: ProRealTime WTI bulls refuse to go quietly While the price remains off last week’s highs, the buyers are not giving up easily. Friday’s session ended in indecisive fashion, and already buyers have come in at the lows on Monday morning. A close below $81 might signal some additional near-term weakness is developing. Buyers will want a close back above $84 to suggest that a new leg higher has begun. Source: ProRealTime Silver downside stalled for now Like gold, silver has suffered a severe rebuff since mid-July. For the moment, buyers have defended the area just above $22.50, and this might yet result in a low being created. A close back above the 200-day SMA might reinforce the bullish view, and potentially open the way to the highs above $25. Sellers will want a close back below $22.50 to resume the downward move, and this would then open the way to the late June lows at $22.20. Source: ProRealTime

European indices open lower after a negative session in APAC European indices opened lower, following a negative session overnight in the Asia-Pacific region. Forex Shares Inflation Consumer price index United Kingdom Japanese yen Writer, | Publication date: Monday 14 August 2023 09:39 European indices European indices opened lower, following a negative session overnight in the Asia-Pacific region. USD/JPY In Japan, the JPY is back in Government intervention territory. After a week of constant declines, USD/JPY hit $145 a few hours ago. ¥145.21, a level not seen since last November. It was at that level that the Japanese government decided to intervene in the currency market last September. It did so again a month later when USD/JPY rose above $151. Macroeconomic indicators A few macroeconomic indicators are expected this week in the UK. On Tuesday, the unemployment rate was forecast to remain at 4% for the month of June. In May, the index surprised economists, who expected it to be two notches lower. UK unemployment The UK unemployment rate is now back at a level not seen since the end of 2021. On Wednesday, consumer inflation should continue to decline. UK consumer price index The market sees consumer price index (CPI) decelerating to 6.8% in July on an annual basis, down from 7.9% in June. Core CPI is also expected at 6.8% year-on-year (YoY), which would be only 10 basis points lower than the previous month, suggesting stickier broad-based inflation. And on Friday, retail sales are anticipated to drop on a monthly basis by 0.5%. Reserve Bank of Australia Some central banks will attract attention this week, starting tomorrow with Reserve Bank of Australia (RBA) minutes. A couple of weeks ago, the RBA unexpectedly kept its cash rate unchanged at 4.1%, despite inflation at 6%. The market has anticipated a 25-basis-point hike. Reserve Bank of New Zealand On Wednesday, the Reserve Bank of New Zealand (RBNZ) is expected to maintain the Official Cash Rate at 5.5%. Apart from a brief pause this winter, the RBNZ has constantly been in tightening mode since October 2021, raising borrowing costs by a total of 525 basis points. Federal Open Market Committee Also on Wednesday, the Federal Open Market Committee (FOMC) minutes The Fed raised its target range for the funds rate by 25 basis points on July 26 to 5.25%–5.5% to bring borrowing costs to their highest level since January 2021. Legal & General On the corporate front, the insurance sector will take center stage in the UK with half-year reports from Legal & General Group tomorrow and Aviva and Admiral on Wednesday. Over in the US, it is the retail sector that will gather investors' attention. Walmart The world's largest supermarket chain, Walmart , is due to report on Thursday. Earnings are expected at $1.69 per share for the second quarter on revenue just short of $160 billion. Compared to the same quarter a year ago, this would mean a rise in revenue but a fall in earnings, a very similar situation to what we saw three months ago. The increase in revenue reflects a rise in costs, but Walmart has to reduce its margins to keep its customers. Two other big names of the US retail sector are scheduled to publish quarterly reports this week: Home Depot on Tuesday and Target on Wednesday. This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.

The Week Ahead Read about upcoming market-moving events and plan your trading week Week commencing 14 August Chris Beauchamp's insight This week sees the release of UK inflation data, along with figures on employment and wages plus monthly retail sales. Minutes from the latest Federal Reserve bank (Fed) and Reserve Bank of Australia (RBA) meetings will be worth monitoring, along with the German ZEW reading. On the earnings front, UK insurers such as Legal & General and Aviva report, and in the US Home Depot, Cisco and Walmart provide earnings updates. Economic reports Weekly View Monday None Tuesday 12.50am – Japan GDP (Q2): growth expected to be 3.2% YoY and 1% QoQ. Markets to watch: JPY crosses 2.30am – RBA meeting minutes: these will cover the decision to leave rates unchanged at 4.1%. Markets to watch: AUD crosses 7am – UK employment data: June unemployment rate to hold at 4%, while average earnings including bonus to rise 6.8%. Markets to watch: GBP crosses 10am – German ZEW index (August): index to fall to -16. Markets to watch: EUR crosses 1.30pm – US retail sales (July): expected to rise 0.3% MoM. Markets to watch: USD crosses 1.30pm – Canada CPI (July): prices to rise 2.8% YoY and 0.1% MoM, in line with last month. Markets to watch: CAD crosses Wednesday 7am – UK CPI (July): prices in the UK expected to rise 7.4% YoY, from 7.9% in June, and 0.1% MoM, in line with the previous month. Core CPI to be 6.8% YoY, down from 6.9%. Markets to watch: GBP crosses 3.30pm – US EIA crude oil inventories (w/e 11 August): stockpiles rose by 5.8 million barrels in the previous week. Markets to watch: Brent, WTI 7pm – FOMC minutes: these will cover the July meeting and the decision to raise rates by 25bps. Markets to watch: US indices, USD crosses Thursday 2.30am – Australia employment data (July): unemployment rate to hold at 3.5%. Markets to watch: AUD crosses 1.30pm – US initial jobless claims (w/e 12 August): claims to rise by 241K, down from 248K in the previous week. Markets to watch: USD crosses Friday 12.30am – Japan CPI (July): prices to rise 3.4% YoY and core CPI to rise 3.1%. Markets to watch: JPY crosses 7am – UK retail sales (July): sales rose 0.7% MoM in June. Markets to watch: GBP crosses 3pm – US Michigan consumer sentiment (August): index to drop to 70.9 from 71.6. Markets to watch: USD crosses Company announcements Monday 14 August Tuesday 15 August Wednesday 16 August Thursday 17 August Friday 18 August Full-year earnings Half/ Quarterly earnings Legal & General, Just Group , Home Depot Balfour Beatty, Admiral, Aviva, Target, Cisco Walmart Trading update* * Please note these can change without notice Dividends FTSE 100: Pershing Square, Imperial Brands, GlaxoSmithKline, Schroders, Anglo American, Convatec, London Stock Exchange, Abrdn, Hiscox, Entain, Berkeley Group FTSE 250: Investec, Chemring, ICG Enterprise Trust , Bridgepoint, Keller, Rotork, Tritax Eurobox, 4imprint, Lancashire Holdings, TI Fluid Systems

Charting the Markets: 11 August Indices little-changed after post-US CPI volatility. EUR/USD and GBP/USD try to recover their poise while USD/JPY returns to July high. Gold, oil and natural gas prices steady after volatile Thursday. Jeremy Naylor | Analyst, London | Publication date: Friday 11 August 2023 11:59

Stock markets dropped back after yesterday’s CPI figure, but are attempting to move higher again this morning. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 11 August 2023 11:25 FTSE 100 aiming to move above 7600 The index managed to push its way above 7600 yesterday, but was unable to hold these gains. A reversal below 7540 and the 50-day SMA would be a bearish development and signal that the sellers were in control once more. This might then open the way to a move to the lows of July around 7250. A close above 7600 would mark a more bullish event and then allow the price to contemplate a renewed move to 7700. This is where the July rally stalled, and so a close above this level would add to the bullish view. Source: ProRealTime DAX moves back above 100-day MA European indices had gained in the wake of the US CPI reading, but then failed to hold their gains. The Dax succeeded in reaching the 50-day SMA again but then fell back. Early trading this morning has seen the index drop back slightly. Further losses would suggest a retest of 15,700, and then down to 15,500 and the July low. As throughout the past week, bulls will need a close above 16,000 to provide the necessary catalyst for a new move back to the record highs seen in July. Source: ProRealTime Dow attempting to move higher again The Dow suffered a notable intraday reversal yesterday, after attempting to rally above 35,500 following the inflation reading. For the current weakness to turn into even a modest pullback to the 50-day SMA, the 35,060 level needs to be broken on a daily closing basis. This might then see further losses towards the June resistance level of 34,506. For the moment, however, price action still looks like consolidation, and continued activity above 35,000 will bolster bullish hopes that a new move higher can develop. Source: ProRealTime

Commodity prices came under pressure on Thursday as the dollar strengthened, but have edged higher in early trading this morning. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 11 August 2023 11:10 Gold back to support zone Gold is back to the support zone seen in June, after seeing its gains on Thursday knocked back. Some small gains this morning will not really change the overall negative view. It would need a close back above $1930 to suggest that a low has been formed. Further declines below the 200-day SMA and the $1900 level will amplify the bearish view and open the way to a retracement in the direction of the March low at $1806, the next major support level. Source: ProRealTime Brent still in short-term uptrend While oil prices fell back yesterday, the overall move higher is still intact. This still leaves the price on course to break above the $87.20 support level, and then on towards the $89 highs from January. In the short-term, a move back below $85 would break trendline support and possible result in a pullback or consolidation. For the moment however, there is little sign of any bearish price action. Source: ProRealTime Natural Gas steady after Thursday’s drop After rallying steadily all week the price fell back yesterday as profit-taking set in. In the short-term a move back below 2786 might signal that a move back to the 50-day SMA was in the offing. Bulls would certainly be pleased to see the price hold above 2786 as it might then allow the price to move back to Wednesday’s highs around 3050, and then on towards the 200-day SMA. A move back below 2626 would be a fresh bearish development and suggest that the recent bounce was merely a short-lived development. Source: ProRealTime

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 14th Aug 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.

Alibaba, an all-session stock on IG, has seen its shares rise after reporting first-quarter (Q1) sales that beat the street. Can this be sustained in H2, asks IGTV's @AngelineOng. Shares Alibaba Group Taobao Baidu Nvidia Angeline Ong | Financial Analyst, Presenter and Content Editor, London | Publication date: Thursday 10 August 2023 14:53 Alibaba shares beat predictions China's Alibaba shares inflated after the company reported Q1 sales that beat analysts' estimates. Let's have a look at the shares for you. All sessions here on the IG platform. It shares currently trading up 3.7%. This is after those impressive sales figures when consumer sentiment bounced back from the same time a year earlier when there were strict pandemic lockdowns. Consumer purchases on Alibaba's Taobao and two more marketplaces bounced back as well. Taobao, Alibaba's treasure chest Taobao, of course, is another term for treasure, and it's where people go to look for bespoke items. QMao, very interesting enterprise there. It's where Alibaba's selling or offering the more luxury end of the marketplace and the products. They helped in part, too, thanks to a shopping festival. This is a 618, which is a key shopping event in China. In terms of sales for the group as a whole, 234 billion yuan. That's around $32.3 billion for the quarter. Now, what is happening in this space is many of these groups are looking at buying up chips from the likes of Nvidia because this is seen as where the whole thrust of keeping stocks and also margins high will play and also the building out of generative AI systems. According to the F2, many companies like Alibaba have made orders worth around $5 billion. Always showing you Baidu because that's also an all second stock. Baidu, TikTok owner ByteDance, Tencent and Alibaba have all made orders as well, according to this F3 report. Global growth uncertain So, where is the salad dressing? As global growth looks still shaky and the likes of Maersk and also Hugo Boss, Heineken and Black+Decker, included in that loss as well, have complained about destocking, which hurt their previous quality performance. Many companies like Alibaba, like Baidu are looking to AI and new technology to solve this issue. The question, so where is the salad dressing? The question is, can new technology help companies like Alibaba in the second half become more nimble when it comes to stocking and restocking to ensure that they're not behind the curve, whichever way the economy goes?

Metals outlook: China demand outlook clouds over As China's economic data sours, Liberum Capital mining analyst, Ben Davis, tells IGTV's Angeline Ong why extra stimulus won't make a big impact on global metals demand from China. Commodities Coal China Copper Rhodium Palladium Angeline Ong | Financial Analyst, Presenter and Content Editor, London | Publication date: Thursday 10 August 2023 14:09 (Video Transcript) Iron, copper not so bright now It's an interesting one. The usual playbook was if China is suffering that you should then expect stimulus to be around the corner and you should start buying iron or you should start buying copper because that's what they usually use for their traditional growth engines. What's probably more likely or where the stimulus is going to have a bigger impact is in items such as platinum group metals (PGMs), where certainly we expect internal combustion engine sales to start improving for cars. Go for the unloved ones: coal and PGMs So, that would then lift palladium and rhodium, the prices of which have already completely crashed out. And then also similarly, coal: we expect to see probably improvement there into the winter as it's not necessarily anything to do with the stimulus programme. So, go for the unloved ones. Go for coal and PGMs that are already on the floor in terms of marginal pricing.

Hi @Mimi, Thank you for contacting us. Please note that withholding tax is deducted from the dividends that you receive on US equities. The dividend amount that gets credited to your IG account is already accounted for withholding tax. The withholding tax that is deducted from your dividends in US equities is the one that gets passed onto the Internal Revenue Services (IRS). You can see tax paid on US dividends on your income summary statement. Kindly request the income summary statement for share trading accounts from helpdesk.au@ig.com All the best, -KoketsoIG

Hi @cate, Thanks for your question. Please note that we unfortunately do not have a way to extract historic Tomnext data. However, we do offer history on FX for back testing. This can be done through our web API: labs.ig.com All the best, - KoketsoIG