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Dollar Surged As Debt Ceiling Looms

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STATE OF THE MARKETS

Dollar surged as debt ceiling looms. US stocks closed mixed on Wednesday, with Dow (+0.26%) and S&P (+0.16%) pared earlier losses while Nasdaq (-0.24%) and Russell (-0.20%) edged lower as the House battled in finding the stopgap to the debt ceiling that will expire Thursday. Fed’s Powell testimony didn’t help calm the markets while investors ran to the Dollar as the 10Y yields revolved around 151 basis points – the highest in 3 months. Dollar index surged past 94 handle and on the way to 90.50 at writing.

In the commodities market, Dollar demand and strength on yields continue to weigh on both crude and gold as investors rotate from cyclical to defensive sectors. Crude settled below $74.70/bl while gold below $1,723.00/oz as New York closed. Elsewhere, iron ore was flagging $120/tn for October settlement – 5% higher as markets await the infrastructure bill to pass.

In the FX space, Yen was seen advancing in demand while Euro was sent to offers in the short term accounts as traders prepared for the worst. Long term investors, however, flipped Euro to demand while sending Kiwi to the back burner as European equities looked poised for long term upside. Markets expect better US GDP (6.7% vs 6.6%) and unemployment claims (340k vs 351k) on Thursday.


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G8 CURRENCIES SENTIMENTS

ST USD JPY CAD CHF EUR GBP AUD NZD ST
MT CAD USD AUD EUR CHF GBP NZD JPY MT
LT USD CAD AUD EUR JPY CHF NZD GBP 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
CEI 3.42 + 6.21 985,325.5K 67,998.9K
PALT 8.39 + 60.11 133,198.4K 485.8K
SQQQ 8.54 + 0.59 123,443.3K 79,907.8K
LCID 26.28 + 7.09 120,639.8K 19,237.2K
NCNA 2.78 + 17.30 85,665.8K 541.3K
SPY 434.45 + 0.17 82,301.5K 64,725.8K
AAPL 142.83 + 0.65 74,482.0K 78,446.9K
COG 22.55 + 3.35 60,912.2K 9,537.8K
QQQ 359.28 – 0.16 58,049.3K 36,201.2K
F 14.30 – 0.07 56,776.1K 74,296.9K
** % Change here refer to price


WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 781.31 20,902.3K + 12.31 16,331.2M
AAPL 142.83 74,482.0K – 12.82 10,638.3M
AMZN 3,301.12 2,558.3K – 14.28 8,445.3M
MSFT 284.00 26,318.4K + 11.86 7,474.4M
AMD 100.35 52,151.7K + 28.86 5,233.4M
FB 339.61 14,432.0K – 10.24 4,901.3M
NVDA 205.17 21,799.5K – 8.75 4,472.6M
MRNA 378.90 11,402.6K – 17.12 4,320.4M
GOOGL 2,687.07 1,539.5K + 11.40 4,136.7M
BA 225.36 16,779.3K + 82.62 3,781.4M
** % change here refers to volume


TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
6L 0.18205 – 0.18340 FX futures/BRLUSD 3,220 46.8M
6N 0.69024 FX futures/NZDUSD 909 62.7M
GC 1,721 gold futures 86 14.8M
ZF/N/B – TN 122.2325 – 159.0000 US bond futures 20,096 279,844.2M
CL 74.36 – 75.10 crude oil futures 425 31.7M


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