Breaking

Equities Mixed Amid Inflation Worries

Views: 3159
0 0

STATE OF THE MARKETS

Equities mixed amid inflation worries. Global equities was mixed on Wednesday after reports showed that inflation rose more than expected in the world’s largest economy. Blue chip Dow was at breakeven while S&P (+0.30%), FTSE (+0.16%), Nikkei (+1.39%) and Shanghai (+0.06%) climbed higher. Flight to safety was seen as yields edged lower with the US 10Y fell to 1.54% and 30Y to 2.04% as bond prices rose on demand.

In the commodities market, crude was little changed as traders were seen booking more profits and the black gold settled around $80.45/bl as New York closed. Gold surged and settled around $1,791.80/oz after higher inflation reports sent heavy bids for the precious metal complex. Elsewhere, iron ore consolidated around $122.30/tn as markets priced the demand given higher inflation worries.

In the FX space, King Dollar lost bids in the short and medium term accounts, though not far in demand from Loonie and Aussie in the long term accounts. Short term traders bid more Swiss, Euro, Sterling and Kiwi as Aussie, Yen and Loonie were offered. Yen was unchanged across horizons. Markets look forward to reading the jobless claims report and EIA crude inventories on Thursday.


Become a provider, earn commission and invest with MFM’s PAMM and CopyTrades features!


G8 CURRENCIES SENTIMENTS

ST CHF EUR GBP NZD AUD JPY CAD USD ST
MT AUD CAD NZD GBP CHF EUR USD JPY MT
LT CAD AUD USD CHF GBP EUR NZD JPY 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
WTRH 1.27 + 58.45 169,379.4K 4,242.9K
PROG 2.04 – 8.11 159,618.8K 21,750.5K
CEI 1.42 – 1.39 143,840.1K 130,858.4K
JSPR 14.79 + 105.13 92,241.7K 330.0K
SQQQ 8.43 – 2.32 88,607.8K 86,811.7K
DATS 11.00 – 26.72 85,333.0K 13,283.9K
PLUG 33.59 + 12.79 84,797.8K 20,170.3K
AAPL 140.91 – 0.42 78,606.1K 79,152.1K
ANY 8.13 + 15.65 74,328.5K 22,814.4K
SPY 435.18 + 0.36 72,767.9K 69,244.2K
** % Change here refer to price


WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 811.08 14,120.0K – 27.75 11,452.5M
AAPL 140.91 78,762.7K – 3.51 11,098.5M
AMZN 3,284.28 2,425.0K – 17.63 7,964.4M
MSFT 296.31 23,424.0K – 9.99 6,940.8M
AMD 109.16 55,631.9K + 32.43 6,072.8M
FB 324.54 14,761.4K – 33.96 4,790.7M
MRNA 321.50 12,770.6K – 11.51 4,105.7M
AFRM 146.13 25,985.9K + 33.03 3,797.3M
NVDA 209.39 18,065.1K – 25.42 3,782.7M
JPM 161.00 22,753.4K + 78.28 3,663.3M
** % change here refers to volume


TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
TJX 63.50 / 64.00 stock options/call 98.03 458.4M
PMT 20.60 / 17.50 stock options/call 57.20 23.6M
GC 1,786.00 gold futures 25 4.5M
SI 23.1750 silver futures 44 5.1M
CL 77.69 – 80.68 crude oil futures 10,124 806.6M


OUR PICK – AUD/CAD

Iron Ore Vs Crude Oil. Rising crude oil prices to more than $80/bl finally added weight to the Loonie and now in the making we see strengthening iron ore price might do the same for Aussie. Waiting for the US infrastructure bill is painful but we see iron ore price might have found a floor at around $120/tn which is about 0.91CAD per AUD. We expect AUD/CAD to rise further in the short to medium term as iron ore prices stabilize and rise in anticipation of the infrastructure bill being passed. Risk to the downside remains as it might take longer for the bills to pass the US senate and this is a negative swap trade.

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy 0.9120 0.9230 0.9270
Medium-Term Buy 0.9100 0.9270 0.9300
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.