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Dollar Firmed Ahead Of Inflation Data

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STATE OF THE MARKETS

Dollar firmed ahead of inflation data. While US stocks closed mixed on Monday, with Dow (+0.76%) and S&P (+0.23%) recouped earlier losses as Nasdaq (-0.07%) edged lower; Dollar was on firmed bids ahead of inflation data on Tuesday that is expected transitory. Bonds were on bids, sending yields lower, with the 10Y benchmark closing at 1.33% as the Dollar index spiked above the 92.80 mark.

In the commodities market, crude regained the $70 handle, as US gulf coast production grappled to recover lost output in the wake of a new hurricane Nicholas that is developing. On another front, gold continues to be suppressed under the $1,800/oz as markets continue to delve on Feds tapering this December.

In the FX space, short and long term accounts seemed optimist as Swiss and Yen were back on offers as Dollar regained footing in the demand territories. The King seized the helm of demand in the medium term accounts from the Yen, while keeping Euro, Swiss, Loonie and Aussie in the supply territories. US inflation data will be on closed watch Tuesday.


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G8 CURRENCIES SENTIMENTS

ST CAD AUD USD EUR NZD GBP JPY CHF ST
MT USD GBP JPY NZD EUR CHF CAD AUD MT
LT NZD EUR AUD USD GBP JPY CHF 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
ATER 17.98 + 52.37 242,232.1K 6,121.0K
CEI 1.39 – 8.55 182,888.7K 33,260.2K
SQQQ 7.54 + 0.13 135,233.3K 77,476.0K
LIFE 9.15 + 66.97 114,768.0K 218.0K
AAPL 149.55 + 0.39 102,404.3K 78,361.2K
SPY 446.58 + 0.26 83,738.6K 63,448.4K
OCGN 8.28 + 15.80 77,380.2K 30,274.8K
AMC 51.69 + 3.05 75,111.0K 150,781.1K
GSAT 2.28 – 12.31 70,587.0K 36,986.5K
LPTX 1.77 + 21.23 63,356.6K 498.6K
** % Change here refer to price


WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 743.00 22,952.4K + 34.56 17,053.6M
AAPL 149.55 102,404.3K + 32.49 15,314.6M
AMZN 3,457.17 2,569.0K – 12.66 8,881.5M
MSFT 296.99 23,652.9K + 11.45 7,024.7M
NVDA 221.52 29,749.9K – 5.49 6,590.2M
MRNA 419.72 15,664.7K + 4.01 6,574.8M
AFRM 109.30 44,888.0K + 301.11 4,906.3M
FB 376.51 13,026.2K + 19.17 4,904.5M
ATER 17.98 242,232.1K + 583.58 4,355.3M
AMD 104.80 37,767.7K – 26.81 3,958.1M
** % change here refers to volume


TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
GSK 39.76 / 41.00 stock options/call 134.68 370.1M
AAPL 149.55 / 140.00 stock options/call 133.64 15,314.6M
WFC 45.76 / 32.50 stock options/put 96.50 1,282.5M
ATER 17.98 / 12.50 stock options/put 81.36 4,355.3M
CL 70.40 – 70.60 crude oil futures 11,193 788.4M


OUR PICK – NZD/USD

Fading optimism on downtrend channel. The risk sensitive Kiwi is facing a headwind recently as optimism fades in the light of a new delta variant that saw New Zealand (NZ) back in lockdown state. The NZ Institute of Economic Research (NZIER) forecasted a bleaker economic outlook towards year end though expect a rebound from 2022. From technical perspective, the pair is at the top of downtrend channel and specifically at the 61.8% retracement of May high to August low. We favor short with 0.7160 stop for the short and medium term, inline with our G8 FX sentiments model.

HORIZON STRATEGY SL TP1 TP2
Short-Term Sell 0.7160 0.7080 0.7050
Medium-Term Sell 0.7160 0.7050 0.7020
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.