Dollar Weakened As Biden Presidency Looks Imminent

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STATE OF THE MARKETS

Markets optimism continues as Biden Presidency looks imminent. Democrat President and a split congress dimmed the prospect of higher corporate taxes, hence higher equities market, lower bond prices and higher yields. However, as markets closed, more bonds are being purchased, over $153b in the futures market, leading to lower yields. 10Y notes was down to 0.78% compared to 0.90% Wednesday.

Crude took a pause as rush of sell orders hit the book when investors fear the growing lockdown is going to dampened demand. A tie senate at this point calmed the markets, but shall Democrats took another lead of the 100 seats, further collapse is to be expected.

Greenback took a hit across the board, as investors see more stimulus coming but under divided senate that might not be the case; which saw options traders buying gold put striking at 1,730 to 1,150 expiring December 2020 and June 2021. Short and medium-term accounts returned to GBP on profit taking as BoE increased asset purchases more than expected and more Swiss buying on the medium term suggests that investors remain cautious on the outcome of the US election.


G8 CURRENCIES SENTIMENTS

ST AUD GBP NZD CHF JPY EUR CAD USD ST
MT AUD NZD CAD GBP CHF EUR JPY USD MT
LT NZD JPY CAD AUD GBP CHF EUR USD LT
** ST refers to Short-Term which is daily turnover, MT is Medium Term which is 
weekly
and LT refers to Long-Term which is monthly turnover.

WALL ST MOST ACTIVE

TICKER LAST PRICE

% CHANGE

VOLUME 90 DAYS AVG
NIO 42.35 +12.30 302,472.6K 135,558.0K
ACB 6.27 +41.53 126,467.1K 7,243.6K
AAPL 119.03 +3.55 126,387.1K 159,798.4K
HOFV 3.41 +79.47 94,156.5K 323.6K
ONCT 3.36 +122.52 86,444.2K 87.7K
SQQQ 18.90 -7.71 88,280.8K 55,317.8K
GE 7.99 +1.78 85,806.8K 95,828.0K
XPEV 35.85 +30.89 89,538.5K 10,726.3K
SPY 350.24 +1.95 82,039.7K 71,284.8K
EEM 47.71 +1.71 78,029.3K 42,040.0K
** % Change here refer to price vs previous day price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
AMZN 3,322.00 5,789.2K +1.47 19,231.7M
AAPL 119.03 126,386.9K -5.74 15,043.8M
BABA 287.75 49,885.8K +199.08 14,354.6M
NIO 42.35 302,472.6K +86.83 12,809.7M
TSLA 438.09 28,414.5K -13.67 12,448.1M
MSFT 223.29 36,080.1K +17.79 8,056.3M
FB 294.68 23,823.6K +5.61 7,020.3M
NVDA 566.40 7,975.7K +3.13 4,517.4M
QCOM 145.41 27,910.8K +241.77 4,058.5M
AMD 83.00 46,542.2K -13.75 3,863.0M
** % change here refers to volume vs. 20 days average volume.

TOP 5 BLOCK ORDERS

TICKER PRICE/STRIKE TYPE VOL/OI FUNDS FLOW
SPWR 19.39/20.00 stock options/put 93.60 343.7M
TLRY 7.82/9.50 stock options/call 67.54 359.6M
GC 1,950.00 – 1919.40 gold futures 768 177.5M
CL 38.85 – 39.30 crude oil futures 2,331 91.1M
ZB-ZN 174.02 – 139.01 US bond futures 9,829 153,539.3M

OUR PICK – Flat

Our risk averse accounts remain flat for the US election.

HORIZON STRATEGY SL TP1 TP2
Short-Term Flat
Medium-Term Flat
Long-Term Flat

 

Disclaimer:

This article is for general information purpose only. It is not an investment advice or a solicitation to buy or sell any securities. Opinions expressed are of the authors and not necessarily of MFM Securities Limited or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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MFM Team