Highlights

State of The Markets

Author: MFMTeam   |   Latest post: Fri, 23 Jul 2021, 9:46 AM

 

Stocks Down Ahead of FOMC

Author:   |    Publish date:


STATE OF THE MARKETS

Stocks down ahead of FOMC. US equity indexes closed lower on Tuesday as markets prepared for Fed’s FOMC meeting on Wednesday. Dow (-0.27%), Nasdaq (-0.71%), and S&P (-0.20%) including Russell (-0.28%) were on offer as investors expect Feds to address the hotter than expected inflation for the past two months. Less demand was seen flowing into US bonds, sending the 10Y yield benchmark steady above 1.50% mark.

Crude futures continue its upward trajectory as demand is expected to pick this summer from retail reopening and travelling. The black gold settled above $72.75/bl as New York closed. Gold remains under selling pressure, below $1,870/oz as investors expect yields going higher in light of Fed’s tapering as soon as in Fall this year.

King Dollar became the primary beneficiary across the board as Aussie, Kiwi and Loonie lost their bids. Investors were also seen cautious as demand for the safe haven Swiss and Yen was elevated across all horizons. Risk off seemed affirmative as Euro overbid Sterling in the short to medium term accounts. Wednesday will be a volatile day.

OUR PICK – EUR/JPY

Short term block orders trade. Recent block orders in the amount of $40.7 million was noted in the futures market for Euro/Yen at ¥133.63 and we intend to ride with it. With the stock market in limbo waiting for the Feds, and overvalued commodities, we think it’s time to focus on currency for now.

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.

Share this

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
 
 

4960  4892  885  277 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 EDU 2.93-3.47 
 XBIO 2.52+0.66 
 TAL 6.00-14.52 
 MDGS 1.92+0.42 
 DIDI 8.06-2.14 
 NAOV 2.61+1.86 
 SNAP 77.97+15.00 
 TRCH 4.95+0.20 
 SQQQ 8.12-0.28 
 AMC 36.99-0.25 

TOP ARTICLES

1. Daily Futures Trading Strategy 23 July 2021 Where Futures Lies
2. Rally Stalled On Soft Jobs Report State of The Markets
3. Wall Street Breakfast: Brexit Tensions Resurface Wall Street Breakfast
4. Wall Street Breakfast: Mask Revival? Wall Street Breakfast
5. Daily Futures Trading Strategy 22 July 2021 Where Futures Lies