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Sainsburys full year earnings and Unilever’s first quarter trading update both say the same thing, UK consumers are in for higher prices. The war in Ukraine, supply chain issues and the effects of ongoing Covid all to blame. -
US Dollar (DXY) Daily Price and Analysis US Q1 GDP may stall the greenback’s advance. A 20-year high nears for the US dollar. The multi-month US dollar rally continues with the greenback printing a fresh high today ahead of the first look at US Q1 GDP at 12.30 GMT. The US dollar basket (DXY) has been boosted by renewed weakness in the Euro and the Japanese Yen, as investors move from lower-yielding to higher-yielding currencies, while safe-haven flows continue to benefit the greenback. The US growth release later in the session is expected to show a sharp slowdown from the robust Q4 figure of 6.9%. The markets are currently pricing in growth of just 1% for the first three months of this year, with the slowdown mainly due to a reduction in inventory accrual over the quarter. This release is unlikely to move the greenback, unless there is a large miss or beat, as the Fed believe that 2022 US growth will be robust enough to let them tighten monetary policy sharply without damaging the economy. The latest US Core PCE data – the Fed’s preferred inflation reading – is released on Friday and this may have more effect on the US dollar than today’s GDP data. For all market moving economic data and events, see the DailyFX Calendar. The ongoing US dollar rally has been aided by weakness across a range of G7 currencies including the Euro, the Japanese Yen, and the British Pound. The Euro continues to battle with lowly growth expectations, exacerbated by energy concerns, the British Pound is mired by weak economic data, while the Japanese Yen is in freefall as the BoJ continues with its ultra-loose monetary policy. The US dollar continues to press higher and looks set to break above 103.96, the March 2020 high. Above here the US dollar would be back at levels last seen nearly two decades ago. The March resistance will likely hold in the short-term, especially with month-end portfolio rebalancing at the end of the week, but US dollar strength is set to continue in the months ahead. USDOLLAR (DXY) WEEKLY PRICE CHART – APRIL 28, 2022 {{THE_FUNDAMENTALS_OF_BREAKOUT_TRADING}} What is your view on the US Dollar – bullish or bearish? Apr 28, 2022 | DailyFX Nick Cawley, Strategist
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While Tesla has nothing directly to do with Elon Musk buying Twitter - TSLA stock closed down 12% on news that Musk may have to sell stock and use other holdings to stand against the loan to finalise the purchase of the social media giant.
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Question
Vina
Hello Team
I am new to this platform and new to spread betting as well. So apologies if I am making some silly mistake here.
I opened up a demo account and I have £9943 of virtual currency still left. I was looking up the price of Amazon to understand how an US based stock bet works. I have a few questions:
1. I realized that that the price was showing up as 269004.0 and I cross checked against CNBC to find that the price was $2690.40. So I am assuming that the price being shown on IG is really in cents. Am I correct?
2. I tried to place a very small bet - £0.5 per point - and the margin requirement was shown as £26,886.40. When I tried to still place a deal, it told I had insufficient funds and I had to deposit £17,043 in my account to proceed. If the price of Amazon is $2690 and I am betting only £0.5 per point, I would expect the margin requirement to be 20% of $2690 and this should be covered by the £9943 virtual money still in my account. Am I missing something here?
3. When my base currency is GBP and I am dealing in US stocks, am I right in assuming that the currency conversions happen at 2 points - when I place a bet and again when I exit the bet? I am trying to understand the currency risk here.
Thanks a lot in advance.
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