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Dollar Buoyed As Yields Firmed

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STATE OF THE MARKETS

Dollar buoyed as yields firmed. US stocks edged higher on Wednesday, after Fed’s officials said the talks about tapering are just talks and do not affect the current stance of monetary policy. Dow (+0.03%), Nasdaq (+0.59%), and S&P (+0.19%), including Russell (+1.97%) advanced on the news, with Dollar index (DXY) closed above 90 mark as the 10Y yield firmed above 1.55%

Crude futures remained sideways, within the $66.50 – $65.25 band, after reports of reduction in US crude supplies failed to offset market worries on potential new Iran supplies. Gold closed with bearish pin bar, below $1,900/oz, as lure of yields sent Dollar on firm bid.

In the FX space, Fed’s tapering talks spurred demand for King Dollar in the short to medium term, while sending Euro and Aussie to the back burner. Medium to long term accounts remained cautious as bids for Swiss continued with Kiwi and Loonie. Sterling and Yen were relatively unchanged across the board.

 


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G8 CURRENCIES SENTIMENTS

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

WALL ST MOST ACTIVE

TICKER LAST PRICE

% CHANGE

VOLUME 90 DAYS AVG
AMC 19.56 + 19.20 379,064.1K 144,579.4K
F 13.90 + 8.51 227,538.6K 76,561.7K
NBRV 1.51 + 2.03 140,489.1K 1,772.5K
PIRS 3.39 – 9.84 115,079.9K 4,600.5K
ASXC 2.49 + 22.66 91,659.1K 20,943.2K
LIZI 6.84 + 57.60 73,069.4K 4,807.4K
EXPR 4.96 + 25.89 70,111.5K 22,089.4K
GE 13.40 + 2.13 60,269.7K 75,610.8K
NIO 37.76 + 4.69 55,929.0K 89,905.1K
AAPL 126.85 – 0.04 56,575.9K 101,365.6K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 619.13 28,639.3K – 11.29 17,731.5M
AMZN 3,265.16 2,383.9K – 43.90 7,783.8M
AMC 19.56 379,064.0K + 256.19 7,414.5M
AAPL 126.85 56,575.9K – 37.38 7,176.7M
NVDA 628.00 9,260.9K + 19.42 5,815.8M
GME 242.56 21,119.8K + 259.95 5,122.8M
MSFT 251.49 17,771.6K – 32.16 4,469.4M
FB 327.66 9,686.9K – 52.02 3,174.0M
F 13.90 227,538.6K + 148.12 3,162.8M
PTON 109.56 26,620.6K + 7.99 2,916.6M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
F 13.90 / 14.00 stock options/put 715.81 3,162.8M
AMC 19.56 / 18.00 stock options/put 163.93 7,414.5M
CMCSA 56.85 / 59.00 stock options/call 84.90 1,348.4M
TN 145.0350 – 145.0500 US bond futures 11,476 195.9M
CL 66.25 crude oil futures 50 3.3M

OUR PICK – AUD/USD

Yields flipped to favor USD. Short term bond yields have flipped to favor USD over AUD on Wednesday with 1Y notes registering 0.01% differential, 2Y for 0.08%, and 0.28% for 3 years. We see Aussie holders to shift to the Greenback and continue on bidding Loonie as these two currencies offer among the best yields in the G7 space. Sell on Rally.

HORIZON STRATEGY SL TP1 TP2
Short-Term Sell 0.7800 0.7670 0.7620
Medium-Term Sell 0.7800 0.7620 0.7580
Long-Term Sell 0.7800 0.7580 0.7550

 

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.