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Investors Cautious Amid Inflation Data

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STATE OF THE MARKETS

Investors cautious amid inflation data. Global markets took a cautious stance on Tuesday as investors await US inflation numbers on Thursday. The China inflation released Wednesday pointed to a sudden 9% jump in cost of raw materials, sending major Asian bourse lower. Nikkei (-0.35%) closed lower while FTSE (-0.56%) is down as of this writing. S&P (0.00%) and Dow (-0.09%) gapped lower in pre-market Wednesday as the US10Y benchmark fell to 1.50% in the European session.

Crude futures continued its upward trajectory, breaking $70.50/bl, in anticipation of a 2 million barrel reduction in US crude inventory. Gold was on firm bid as yields fell, though remains capped below the $1,900/oz mark.

The fall in US bond yields, sent King Dollar (DXY) in limbo around the 90 handle, while short term traders lifted Swiss to the forefront of demand. Risk off seems to be the order of the day as the commodity currencies were on offers, while safe havens on bids. Euro and Sterling remain in a tug of war as markets await the ECB decision this Thursday, while Loonie is on edge as BoC is expected to keep its forward guidance on rates.

 


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G8 CURRENCIES SENTIMENTS

ST CHF USD EUR JPY GBP AUD CAD NZD ST
MT JPY CHF GBP USD AUD EUR CAD NZD MT
LT GBP CHF EUR CAD USD JPY NZD AUD 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
CLOV 22.15 + 85.82 735,483.6K 23,739.6K
AMC 55.05 + 0.09 214,490.2K 158,117.2K
WISH 11.63 + 49.87 230,258.3K 8,252.9K
SNDL 1.16 0.00 178,514.4K 420,813.2K
BB 15.80 + 0.19 162,544.2K 35,712.5K
HBAN 15.21 – 2.37 157,402.0K 12,450.3K
NEXT 5.56 + 59.77 109,151.3K 1,161.3K
F 15.63 – 1.57 93,891.1K 79,473.7K
AHT 6.27 + 20.11 102,058.2K 19,071.5K
PBR 11.75 + 2.80 87,842.3K 40,000.3K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
CLOV 22.15 735,483.6K + 1,180.76 16,291.0M
TSLA 603.59 26,053.4K – 14.29 15,725.6M
AMC 55.05 214,490.2K – 28.39 11,807.7M
AMZN 3,264.11 3,416.7K + 14.09 11,152.5M
AAPL 126.74 74,403.7K – 6.64 9,429.9M
MSFT 252.57 22,454.9K – 5.79 5,671.4M
NVDA 698.28 8,096.1K – 24.91 5,653.3M
GME 300.00 17,439.1K + 98.78 5,231.7M
FB 333.68 14,580.4K – 8.86 4,865.2M
BIIB 395.37 12,209.3K + 373.13 4,827.2M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
TWTR 58.81 / 80.00 stock options/call 113.31 751.2M
CLOV 22.15 / 14.00 stock options/put 94.41 16,291.0M
WISH 11.63 / 25.00 stock options/call 85.61 2,677.9M
ZF/UB 123.3125 – 187.1900 US bond futures 21,950 289,514.8M
CL 57.75 – 70.20 crude oil futures 925 62.0M

OUR PICK – No New Pick For Equities

Wait and see for now. At this juncture in the equities market, where capital outflows were the order of the week for the past 9 weeks; we rather stay put for now as the market is trying to break from its range. Though breadth is mostly bullish, showing that investors are accumulating selective stocks, inflation and yields concerns might derail that momentum and give a better level to participate later in our view. Let’s stay on the sideline for now.

Trades updates:  We are out of PFE for now, we look to close MO around $48.50, we remain bullish AUY and will re-entry if stopped, AUD/USD and EUR/USD remain active, we remain bullish T and bearish AUD/NZD.

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

 

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.