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Taper Talks Buoyed Dollar

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STATE OF THE MARKETS

Taper talks buoyed Dollar. US S&P 500 (+0.18%) made an all time record high while Nasdaq (+0.74%) made a second attempt to break it’s all time high on Monday as markets expect Feds to stay put this week. On the other hand, blue chip Dow (-0.25%) and small cap Russell (-0.41%) closed lower as investors continue on profit taking ahead of FOMC. Bonds were of less demand as the 10Y benchmark yielded higher, back at 1.50%, but Feds taper talks have buoyed Dollar (DXY) above the 90 mark for the past two weeks.

Crude futures were at a brink of offers as EIA reported that shale oil is expected to add 7.8 million barrels of supplies this July. The black gold settled above $71/bl after hitting as high as $71.78/bl before New York closed. Taper talks sent gold to as low as $1,844.57/oz before bids emerged and settled around $1,866/oz.

In the FX space, King Dollar sustained a firm bid across the board ahead of the FOMC decision this Wednesday, while sending the comdolls on offers. Euro and Sterling have been in a tug of war for 4 weeks now. Yen and Swiss went back on offers in the short term, while medium and long term saw more Swiss demand than Yen.


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G8 CURRENCIES SENTIMENTS

ST CAD NZD EUR AUD GBP USD CHF JPY ST
MT USD CHF GBP EUR CAD AUD JPY NZD MT
LT CHF GBP USD EUR CAD JPY AUD NZD 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 57.00 + 15.38 301,067.5K 143,860.8K
WISH 11.27 + 12.70 179,942.0K 16,098.6K
SENS 3.96 – 1.25 144,529.2K 35,392.4K
ENOB 6.79 + 53.97 105,740.7K 234.4K
CLOV 14.66 – 2.46 96,383.2K 38,785.1K
SNDL 1.06 + 0.95 90,734.2K 363,105.9K
AAPL 130.48 + 2.46 96,853.5K 94,473.1K
F 14.87 – 2.68 82,509.4K 78,294.4K
NIO 46.55 + 1.90 65,251.6K 85,582.9K
CRSR 36.00 + 11.25 65,240.3K 1,807.4K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
AMC 57.00 301,067.5K – 4.07 17,160.8M
AAPL 130.48 96,853.5K + 33.94 12,637.4M
TSLA 617.69 20,412.2K – 22.57 12,608.4M
AMZN 3,383.87 2,567.9K – 6.57 8,689.4M
NVDA 720.75 8,031.1K – 27.80 5,788.4M
MSFT 259.89 19,145.0K – 11.68 4,975.6M
FB 336.77 12,248.5K – 16.07 4,124.9M
JPM 157.57 19,914.2K + 70.51 3,137.9M
NIO 46.55 65,251.6K + 8.35 3,037.5M
GOOG 2,527.04 1,127.3K – 1.30 2,848.7M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
INTC 58.19 / 62.00 stock options/call 263.97 1,267.6M
CRSR 36.00 / 42.50 stock options/call 124.51 2,357.4M
SI 28.00 silver futures 108 15.1M
ZF 123.3025 US bond futures 5,450 67,199.9M
CL 70.60 – 71.50 crude oil futures 680 48.2M

OUR PICK – AUD/NZD

Re-enter as shorts remain valid. Recent rally in AUD/NZD was mere short covering as Aussie bonds yields have become less attractive and remain inferior to Kiwi. We re-entered shorts with new stops and targets.

HORIZON STRATEGY SL TP1 TP2
Short-Term Sell 1.0820 1.0735 1.0700
Medium-Term Sell 1.0820 1.0700 1.0650
Long-Term Sell 1.0820 1.0650 1.0600

 

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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.