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Sentiments Waned Amid Weaker Dollar

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STATE OF THE MARKETS

Sentiments waned amid weaker Dollar. The new US stimulus bill has sent Dollar lower, to a level not seen since March 2018, while it’s peers surged higher with Euro, Aussie and Sterling all reaching their 52 weeks high today. In the final days of trading for the year, global equities are mixed with US and Europe grinding lower while Asian equities generally grinding higher. Bond yields relatively flat with high beta currencies are in favor.

Crude continue to edge higher, above $48.50/bl, as markets expect a return on demand as vaccine roll-out took its course by next Spring while inventories dropped more than expected at Cushing. The anti-inflationary asset gold continue to grind higher, above $1,894/oz, amid weaker sentiment as yields differentials for junk and investment grade bond trended higher.

In the FX space, while Dollar continue to lose ground, safe-haven Swiss remains in demand for the long term as Aussie, Euro and Kiwi continue trending higher; suggesting the rally is about to be over soon. Any negative surprise on the vaccine front, might trigger safe-haven rallies in the medium-term accounts.


G8 CURRENCIES SENTIMENTS

ST AUD GBP NZD CAD EUR JPY CHF USD ST
MT NZD AUD CAD EUR CHF GBP JPY USD MT
LT AUD CHF EUR NZD GBP CAD JPY 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
BNGO 2.10 + 57.89 805,430.8K 10,773.6K
NOVN 1.05 + 50.17 150,321.9K 9,748.7K
IPDN 2.74 + 100.00 119,516.3K 684.1K
NIO 48.38 + 4.85 116,691.7K 157,308.4K
AAPL 133.72 – 0.85 96,452.1K 140,673.4K
FCEL 11.74 + 7.66 62,649.7K 44,655.2K
MARA 10.88 – 7.48 55,300.4K 18,076.3K
FUBO 33.31 – 14.02 53,676.2K 4,827.6K
NXTD 1.69 + 29.01 53,156.5K 14,583.5K
GE 10.71 + 1.42 50,621.0K 104,271.9K
** % Change here refer to price vs previous day price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 694.78 42,846.0K – 22.58 29,768.5M
AAPL 133.72 96,452.1K – 7.97 12,897.6M
BABA 238.39 44,812.3K + 66.91 10,682.8M
AMZN 3,285.85 3,209.3K – 8.41 10,545.3M
NIO 48.38 116,691.7K  – 15.12 5,645.5M
BIDU 219.63 25,429.3K  + 182.44 5,585.0M
MSFT 221.68 20,272.3K – 25.29 4,494.0M
PDD 179.11 23,332.0K + 162.31 4,179.0M
FB 271.87 11,803.7K – 28.52 3,209.1M
NVDA 525.83 5,634.9K – 2.70 2,963.0M
** % change here refers to volume vs. 20 days average volume.

TOP 5 BLOCK ORDERS

TICKER PRICE/STRIKE TYPE VOL/OI FUNDS FLOW
TSLA 694.78/730.00 stock options/call 152.16 29,768.5M
FCX 26.53/29.00 stock options/call 79.95 853.4M
PAAS 35.06/40.00 stock options/call 75.97 87.1M
UB 212.11 – 212.28 US bond futures 7,125 151,170.4M
CL 47.85 – 48.50 crude oil futures 2,550 122.6M

OUR PICK – No New Pick

No new pick for the year end due to thin markets. Year end is the time to reflect upon our performances and what have we done well and what could have been better. How good have we been in following our processes and procedures in the trading plan. Have we able to achieve our yearly goals with the plan. How has the markets changed for the past 12 months and how well we navigated those changes. Anything new that need to be incorporated into the plan if markets dynamics have changed. These are all questions we have for ourselves and we believe you should ask yourselves too. Happy holidays and may 2021 bring you greater success and profits.

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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