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Dollar Buoyed As Sentiments Plunged

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STATE OF THE MARKETS

Dollar buoyed as sentiments plunged. Global equities plummeted on Monday after concerns over rising spreads of delta covid variants forced long term investors to continue taking profits off the table. Major indexes in the likes of Dow (-2.09%), S&P (-1.59%), FTSE (-2.34%) and Nikkei (-0.32%) plunged deep in the red as investors ran to safe haven Dollar for capital safety. More than $290 billion worth of block orders in US bonds hit the futures exchange as the 10Y benchmark yielded below 1.20% – the lowest in five months.

In the commodities market, crude futures dived below $65/bl, as investors saw demand might not recover as expected after OPEC+ decided to boost production despite rising covid cases globally. Gold dived to $1,795/oz briefly before bidders emerged and settled higher around $1,811/oz amid concerns that Feds might not be able to raise rate as covid cases continue to climb.

Flight to safety saw Yen seized the helm of demand across all horizons in FX markets, with Swiss and Dollar following the lead, while the comdolls were sent to the back burners. Risk off was obvious as more funds flowed into Europe than the UK, sending EUR/GBP rate to the highest in six weeks as fear and greed index hit the lowest in 12 months.


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G8 CURRENCIES SENTIMENTS

ST JPY CHF USD EUR GBP AUD NZD CAD ST
MT JPY USD CHF EUR NZD GBP AUD CAD MT
LT JPY CHF USD NZD EUR GBP AUD CAD 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
SPY 424.97 – 1.48 147,696.9K 72,380.7K
AEHR 6.39 + 87.94 139,022.5K 1,224.3K
SQQQ 9.10 + 2.48 133,212.1K 76,393.9K
AAPL 142.45 – 2.69 121,292.4K 88,513.4K
AMC 34.62 – 0.97 112,638.3K 142,290.9K
F 13.28 – 2.42 99,832.8K 77,064.3K
GE 12.00 – 4.38 98,816.9K 64,708.7K
XLF 35.11 – 2.80 89,957.1K 54,408.6K
BAC 36.93 – 2.61 83,196.6K 48,070.7K
VXX 34.91 + 14.27 79,058.6K 21,102.3K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
AAPL 142.45 121,292.4K + 41.07 17,278.1M
NVDA 751.19 18,686.1K + 69.08 14,036.8M
TSLA 646.22 21,244.7K – 8.93 13,728.7M
AMZN 3,549.59 3,779.3K + 6.62 13,415.0M
MRNA 313.59 35,468.5K + 212.49 11,122.6M
MSFT 277.01 32,905.1K + 38.38 9,115.0M
BA 206.99 24,062.1K + 75.22 4,980.6M
FB 336.95 14,351.5K – 2.18 4,835.7M
AMC 34.62 112,638.3K + 7.92 3,899.5M
GOOGL 2,491.56 1,395.7K + 18.47 3,477.5M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
CCL 19.72 / 20.00 stock options/call 104.51 1,669.9M
MGM 36.63 / 37.50 stock options/put 91.57 370.3M
AAL 18.97 / 17.00 stock options/put 68.80 1,211.4M
ZF-B/UB 124.0150 – 201.1900 US bond futures 18,503 295,743.7M
CL 62.50 – 68.93 crude oil futures 12,633 837.6M

OUR PICK – AUD/CAD

Turn around in long term sentiments. AUD/CAD was bearish for a while until last Thursday. Friday and Monday indicated a turn around in long term sentiments that also synchronized with medium and short term. The bottom is most likely in place for AUD/CAD.

HORIZON STRATEGY SL TP1 -TP2
Short-Term Buy 0.9290 0.9420 0.9480
Medium-Term Buy 0.9290 0.9480 0.9530
Long-Term Buy 0.9290 0.9530 0.9600

 

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.