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Equities Mixed Amid China Slowdown

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STATE OF THE MARKETS

Equities mixed amid China slowdown. Global equities closed mixed on Monday after news hit the wires that China’s economy grew slower (4.9%) than expected (5.1%) and sharply lower (7.9%) than previous quarter. World indexes from Dow (-0.10%) and FTSE (-0.42%) edged lower, while Nikkei (+0.62%) and Shanghai (+0.76%) eked some gains in Asian trading on Tuesday. Dollar (DXY) wobbled below the 94 handle and trending lower at writing as yields eased. The 10Y benchmark settled below 160 basis points as New York closed.

In the commodities market, crude was firm above the $82/bl as major banks continue to see supplies deficit going into winter in the aftermath of gulf coast production shutdown. Gold was under pressure but remained well bid above $1,760/oz after a 1.7% decline on Friday on Dollar strength. Elsewhere, iron ore was firm above $123.40 on spot as investors await the US infrastructure bills to be passed next month.

In the FX space, sentiments continue to be bullish as long term investors flipped Dollar to Kiwi in the demand territories, while medium term accounts sent Swiss to offers. Demand for Loonie eased off in the short and medium term as players moved into Euro and Sterling. Markets look for more earnings reports on Tuesday, especially from Bank of New York Mellon (BK), Haliburton (HAL), Johnson & Johnson (JNJ), Lam Research (LRCX), United Airlines (UAL) and Netflix (NFLX) to name a few.


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G8 CURRENCIES SENTIMENTS

ST NZD EUR CHF CAD USD JPY AUD GBP ST
MT NZD GBP AUD CAD EUR CHF USD JPY MT
LT CAD AUD NZD CHF USD GBP EUR 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
PROG 2.99 + 39.72 352,090.8K 25,253.4K
FCEL 8.74 + 18.27 158,157.9K 22,138.3K
ADMP 1.23 + 8.85 151,823.1K 3,847.9K
IO 2.18 + 56.83 142,027.9K 947.8K
CEI 1.39 + 1.46 95,436.4K 135,878.2K
AAPL 146.55 + 1.18 85,589.1K 79,310.7K
SQQQ 7.57 – 3.07 74,432.0K 87,743.3K
WTRH 1.46 + 2.82 69,221.6K 7,415.8K
BBIG 8.32 + 1.09 67,335.2K 43,150.2K
SPY 447.19 + 0.30 62,213.2K 69,936.9K
** % Change here refer to price


WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 870.11 24,207.2K + 27.62 21,062.9M
AAPL 146.55 85,589.1K + 11.55 12,543.1M
AMZN 3,446.74 3,174.1K + 10.45 10,940.3M
FB 335.34 21,585.0K – 3.30 7,238.3M
MSFT 307.29 22,729.2K – 8.47 6,984.5M
AMD 116.43 47,537.7K + 13.06 5,534.8M
NVDA 222.22 18,949.3K – 19.45 4,210.9M
AFRM 157.25 23,562.8K + 15.26 3,705.3M
DIS 171.14 20,494.7K + 108.67 3,507.5M
COIN 293.34 11,801.1K + 185.99 3,461.7M
** % change here refers to volume


TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
COP 74.50 / 78.00 stock options/call 100.71 738.9M
FFIE 9.11 / 10.00 stock options/call 70.07 16.1M
LOW 221.74 / 227.50 stock options/call 66.30 617.7M
ZF/N-TN 121.2500 – 144.0900 US bond futures 41,867 552,198.7M
CL 81.70 – 83.30 crude oil futures 4,307 354.7M


OUR PICK – EUR/CHF

Improved sentiments should bode well for the Euro. Fear of market meltdown from China’s Evergrande has subsided and now markets are back on track to regular rhythm. Slowdown in China’s economy did not deter the country from issuing $4 billion of new bonds that offer higher yields than the US Treasuries. Recent improved diplomatic relations between China and Europe should also augur well for the Euro in our view.

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy 1.0700 1.0775 1.0800
Medium-Term Buy 1.0675 1.0800 1.0835
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.