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Dollar Higher On Falling Volume

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STATE OF THE MARKETS

Dollar higher on falling volume. US Dollar continue to climb higher as the month come to an end on the lightest volume for the past three months. Dollar Index (DXY) spot and futures (DX) is trading circa 93.40s region as of this writing with falling futures volume for the month. April is usually the worst month for the Greenback, but it might be different this time, with the current state of the equities market, that is in the limbo.

All three major indexes, Dow (-0.31%), Nasdaq (-0.11%), and S&P500 (-0.32%) were in the red, as small cap Russel (+1.72%) advanced higher. The benchmark 10Y yield spiked to 1.78% before closed lower, circa 1.71%, forming a bearish pin bar as more than $157 billion worth of block orders swept the futures market.

Crude was under selling pressure Tuesday, but remain bid above $60.50/bl as markets await the OPEC+ meeting that is expected to retain current production quota in the light of demand concerns for Europe and South Asia. Gold was under selling climax as more than 200K contracts hit the futures market, sending the yellow metal back to the month’s low circa $1,680/oz; while the Greenback advanced further on light volume.

King Dollar regained the reign in the short term, while made way for Sterling in the medium term. A sudden spike of demand for Swiss over Gold was seen as New York opened on Tuesday, as the safe haven normalized across the board with Yen. High beta commodity currency continue to gain traction in demand as markets await Biden’s proposal on new US infrastructure stimulus plan on Wednesday.


G8 CURRENCIES SENTIMENTS

ST USD NZD CAD GBP AUD CHF EUR JPY ST
MT GBP USD NZD AUD CAD CHF EUR JPY MT
LT CAD USD AUD GBP EUR CHF NZD JPY 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
CSCW 1.82 + 35.82 226,659.5K 13,017.8K
VTSI 7.97 + 66.74 165,956.5K 48.3K
PFMT 1.83 + 22.82 134,354.4K 680.3K
VIAC 46.61 + 3.55 150,842.4K 22,150.6K
TME 21.34 + 4.92 133,880.0K 21,352.3K
SNDL 1.14 + 1.79 115,712.6K 499,643.4K
NIO 37.55 + 5.74 106,153.4K 130,197.1K
GNUS 2.07 – 20.23 105,701.7K 33,599.6K
SOS 5.01 – 10.54 100,400.3K 42,017.9K
AAPL 119.90 – 1.23 85,671.9K 107,531.0K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 635.62 39,432.3K – 8.13 25,063.9M
AAPL 119.90 85,671.9K – 25.95 10,272.1M
BIDU 218.23 42,247.6K + 96.37 9,219.7M
AMZN 3,055.29 2,337.6K – 33.00 7,142.0M
VIAC 46.61 150,842.4K + 170.46 7,030.8M
MSFT 231.85 24,792.0K – 21.69 5,748.0M
FB 288.00 17,474.5K – 20.68 5,032.7M
NIO 37.55 106,153.4K – 15.07 3,986.1M
BABA 229.25 14,828.6K – 10.13 3,399.5M
GME 194.46 17,094.9K – 41.84 3,324.3M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE/STRIKE TYPE VOL/OI FUNDS FLOW $
GOEV 9.30/5.00 stock options/put 74.03 337.7M
C 72.96/76.00 stock options/call 71.27 1,139.3M
AMRS 20.02/22.00 stock options/call 36.39 80.7M
ZF/B – UB 123.18 – 182.28 US bond futures 10,260 157,402.0M
CL 49.85 – 60.65 crude oil futures 3,043 172.4M

OUR PICK – XAG/USD

Money flow turned positive. Despite price making new low on silver, money flows have been bullish and turned positive last week, suggesting the short term low is here. The same can be said about gold, that despite the heavy selling volume, price didn’t make a new low, but only come to the month’s low. April being the worst month for USD versus CAD, in 2/3 of the time in 25 years, we might see some bulls light in the precious metal. Long term, there is still chance for the metal to go lower, testing $23.00 if price failed below $25.00. If history repeat itself, then we might also see a medium term top in USD/JPY suggesting Yen strength is around the corner.

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy @ 24.00 23.70 24.30 24.70
Medium-Term Buy @ 24.00 23.70 24.70 25.00
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.