Following a five-week winning streak, stock markets experienced a decline, prompting investor worries about potential overvaluation. Major indices, including the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, dropped due to selling pressure on Big Tech stocks. However, Bitcoin hit a 19-month high while gold reached unprecedented levels, benefiting companies like Marathon Digital, Riot Platforms, MicroStrategy, and Coinbase. The market shift away from tech shares, despite the S&P 500 hitting highs, led to speculation about future rate cuts from central banks, especially as Federal Reserve Chairman Jerome Powell attempted to moderate expectations. European and Asia-Pacific markets reflected mixed performances amid predictions of interest rate cuts in 2024. Currency markets saw significant movements, with the dollar index surging and the euro facing downward pressure against the dollar due to Treasury yield recoveries and market sentiment regarding potential ECB and Fed rate cuts. Meanwhile, gold prices dropped significantly following the resurgence in Treasury yields and a strengthening dollar.

Stock Market Updates

Stocks experienced a dip after a continuous five-week winning streak, raising concerns among investors about potential overvaluation in the market. The Dow Jones Industrial Average closed with a 0.11% drop, the S&P 500 fell by 0.54%, and the Nasdaq Composite declined by 0.84%, attributed to the selling of Big Tech shares, which had been driving the market’s gains. Conversely, Bitcoin surged past $41,000, hitting a 19-month high, while gold reached its highest intraday level ever, leading to gains for companies like Marathon Digital, Riot Platforms, MicroStrategy, and Coinbase.

The pullback was marked by a shift away from sectors that had been driving market growth for almost a year, particularly technology shares. Despite this, the S&P 500 closed at its highest level since March 2022, with year-to-date gains nearing 20%. The Dow and Nasdaq also experienced significant increases in 2023. Speculation about future rate cuts from major central banks persisted, even as Federal Reserve Chairman Jerome Powell attempted to temper these expectations.

In Europe, markets saw a mixed performance, largely lower, reflecting a global pause in the recent rally amid predictions of interest rate cuts from major central banks in 2024. Gold prices surged, hitting a record high, attributed to geopolitical uncertainty, a potentially weaker U.S. dollar, and anticipated interest rate cuts in the coming year. In Asia-Pacific, markets were also mixed as investors awaited upcoming economic data and crucial inflation readings later in the week.

Data by Bloomberg

On Monday, the market experienced a slight overall decline of 0.54%. Real Estate stood out with a positive increase of 0.53%, followed by Health Care and Industrials with gains of 0.21% and 0.20%, respectively. Conversely, Materials took a significant hit, dropping by 1.19%, while Information Technology and Communication Services also experienced notable declines of 1.31% and 1.37%, respectively. Financials remained relatively stable, showing no change, and other sectors like Utilities, Energy, and Consumer Discretionary saw moderate decreases ranging from 0.39% to 0.46%.

Currency Market Updates

The currency market experienced significant movements, particularly in the dollar index, which surged by 0.6%. This rise was attributed to the recovery of Treasury yields from their previous substantial decline in October and November. The upcoming release of crucial U.S. data, coupled with the anticipation of the Federal Reserve meeting, heightened market expectations regarding potential rate cuts by the European Central Bank (ECB) in the following year. Concerns persisted around the Eurozone’s largest economy due to a recent court ruling, further contributing to the speculation of potential ECB rate cuts. The dollar’s momentum was primarily driven by the rebound of 2-year Treasury yields, which recovered a portion of their previous decline, alongside market sentiments that favored possible Fed rate cuts in 2024 unless incoming U.S. economic data alters these expectations.

Meanwhile, the euro faced downward pressure, declining by 0.6% against the dollar, as increasing Treasury yields outweighed minimal gains in bund yields. The EUR/USD pair breached key support levels, including the 200-day moving average line, signaling potential further downside. Market indicators highlighted a decrease in overbought positions, but the expansion of speculative long positions in the market indicated a possibility of continued losses unless forthcoming U.S. data supported expectations of swift Federal Reserve intervention. Additionally, other currencies like the pound sterling saw a contrasting outlook compared to the ECB and Fed, with a potential rate cut by the Bank of England not expected until June, projecting a more conservative 2023 monetary policy. Lastly, gold prices experienced a significant drop, plunging from a record high to $2,020, paralleling the resurgence in Treasury yields and the strengthening dollar.

Picks of the Day Analysis

EUR/USD (4 Hours)

EUR/USD Faces Downward Pressure Amid Rate Cut Speculations and Labor Market Data

The EUR/USD faced its fourth consecutive drop, slipping below the 20-day SMA and hovering above the 1.0800 mark as the US Dollar gained strength before pivotal labor market data. Speculation around the ECB potentially cutting rates before the Fed intensified the downward trend, retracting the Euro from recent highs above 1.1000. Despite the descent, the movement seems somewhat exaggerated, with expected sustained volatility. Market focus shifts to key releases including Eurostat’s PPI and PMIs, alongside US labor reports such as JOLTS, ISM Services PMI, ADP employment data, Jobless Claims, and Nonfarm Payrolls expected later in the week.

Chart EUR/USD by TradingView

On Monday, the EUR/USD experienced a downward movement, creating a push to the lower band of the Bollinger Bands. Currently, the price moving slightly above the lower band, suggesting a potential upward movement, potentially reaching the middle band before goes back lower. Notably, the Relative Strength Index (RSI) maintains its position at 31, signaling a bearish outlook for this currency pair.

Resistance: 1.0880, 1.0945

Support: 1.0835, 1.0760

XAU/USD (4 Hours)

XAU/USD Volatility: Navigating Unpredictable Swings Amidst Economic Indicators

Gold spot prices surged to a record high of approximately $2,150, later correcting sharply below $2,040, in a week marked by erratic fluctuations. The upcoming US labor market data, central bank meetings, and Consumer Price Index contribute to the uncertain landscape. Despite a Federal Reserve tone suggesting hawkishness, Gold surged, possibly fueled by expectations of rate cuts. However, the subsequent pullback hints at a potential overestimation of rate cut probabilities. The market’s movements seem more reactive to sentiment shifts than distinct fundamentals, lacking a clear catalyst for its rally or the subsequent sharp decline. The rise in US yields and Dollar strength on Monday only partially explain the magnitude of Gold’s unpredictability.

Chart XAU/USD by TradingView

On Monday, XAU/USD moved lower after reaching an all-time high of $2,150 but subsequently experienced another strong downward movement, returning to around the $2,030 level. This movement resulted in high volatility, pushing the price beyond both the upper and lower bands of the Bollinger Bands. The current movement suggests a potential upward trend, possibly returning to the middle band. The Relative Strength Index (RSI) stands below 43, indicating a bearish yet neutral sentiment for this pair.

Resistance: $2,049, $2,072

Support: $2,025, $2,006

Economic Data

Various events are set to impact the markets this week, most notably the rate decisions of major central banks including the Reserve Bank of Australia and the Bank of Canada. Traders are advised to exercise caution and stay informed about the latest developments to ensure a successful week of trading.

Here are the upcoming market highlights for the week:

Reserve Bank of Australia Rate Statement (5 December 2023)

The Reserve Bank of Australia raised its cash rate by 25 bps to 4.35% in November after maintaining it at 4.1% following its previous four meetings.

Analysts predict that the central bank will keep its cash rate at 4.35% after its upcoming meeting on 5 December.

US ISM Services PMI (5 December 2023)

The Institute of Supply Management (ISM) Non-Manufacturing PMI—also known as the US ISM Services PMI—fell to 51.8 in October, the lowest in five months.

Updated figures will be released on 5 December, with analysts expecting an updated PMI of 52.

Australia Quarterly Gross Domestic Product (6 December 2023)

The Australian economy expanded by 0.4% in Q2 2023.

Analysts predict that the data for Q3, scheduled to be released on 6 December, will indicate slower expansion at 0.3%.

Bank of Canada Rate Statement (6 December 2023)

The Bank of Canada kept the target for its overnight rate at 5% following its October 2023 meeting.

Its next rate statement is scheduled to be released on 6 December, with analysts anticipating that the rate will remain at 5%.

US Jobs Report (8 December 2023)

The US economy added 150,000 jobs in October, a decrease from the 297,000 jobs added in September. Meanwhile, the unemployment rate increased to 3.9% in the same period, slightly exceeding the previous month’s figure of 3.8%.

Updated figures will be released on 8 December, with analysts forecasting the addition of 180,000 more jobs and an unemployment rate of 3.9%.

University of Michigan Consumer Sentiment Index (8 December 2023)

The University of Michigan Consumer Sentiment Index for the US was revised to 61.3 in November from a preliminary figure of 60.4, but it still remained at its lowest level since May.

Updated figures will be released on 8 December, with analysts expecting the index to hit 61.8.

Dear Client,

As part of our commitment to provide the most reliable service to our clients, there will be server maintenance this weekend.

Maintenance Hours :
2nd of December 2023 (Saturday) 00:00-05:00 (GMT+2)

Please note that the following aspects might be affected during the maintenance:

1. The price quote and trading management will be temporarily disabled during the maintenance. You will not be able to open new positions, close open positions, or make any adjustments to the trades.

2. There might be a gap between the original price and the price after maintenance. The gaps between Pending Orders, Stop Loss and Take Profit will be filled at the market price once the maintenance is completed. If you don’t want to hold any open positions during the maintenance, it is suggested to close the position in advance.

3. Please refer to MT4/MT5 for the latest update on the completion and market opening time. Our services will be back online once the maintenance is completed.

Thank you for your patience and understanding about this important initiative.

If you’d like more information, please don’t hesitate to contact [email protected]

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

November witnessed robust stock market rallies with the Dow Jones surging to a new yearly high, marking an 8.9% gain while the S&P 500 and Nasdaq also experienced significant growth. Cooling inflation figures hinted at a potential shift in the Federal Reserve’s policy, driving investor optimism. Tech stocks like Nvidia, Tesla, Alphabet, and Meta dominated gains, albeit facing slight declines towards month-end. Simultaneously, the dollar rebounded against the euro due to position adjustments and surprising euro zone inflation data, influencing expectations of rate adjustments by both the Fed and ECB. Amidst various currency movements, the anticipation of key economic reports and Fed Chair Powell’s remarks played pivotal roles in market dynamics.

Stock Market Updates

In November, the stock market witnessed a strong rally, with the Dow Jones Industrial Average surging to a new yearly high and closing at 35,950.89, marking an impressive 8.9% gain for the month. The S&P 500 also experienced substantial growth, climbing 8.9%, while the Nasdaq Composite, though slightly lower by 0.2%, still managed a solid 10.7% advance. This surge was primarily fueled by cooling inflation figures, indicating a potential shift in the Federal Reserve’s monetary policy. Despite the broader market’s gains, some profit-taking in Big Tech stocks caused a minor dip in the Nasdaq on Thursday. However, positive earnings reports from Salesforce, driven by its robust cloud data business and AI product, boosted the Dow alongside leading healthcare companies like UnitedHealth Group, Johnson & Johnson, Merck, and Amgen.

The market sentiment was buoyed by indications that inflation might be stabilizing, as the personal consumption expenditures price index rose by 3.5% year-over-year, slightly lower than the previous month’s 3.7% increase. This trend led investors to speculate that the Federal Reserve could potentially halt rate hikes and even consider rate cuts by 2024. Additionally, the 10-year Treasury yield, after reaching above 5% the previous month, dipped to 4.34% in response to the cooling inflation figures, elevating confidence in equities. Technology stocks had dominated November’s gains, with Nvidia, Tesla, Alphabet, and Meta showcasing substantial increases throughout the month, though some investors chose to realize profits as November drew to a close, resulting in slight declines for these tech giants on Thursday.

Data by Bloomberg

On Thursday, across the various sectors, the market showed a general upward trend with an overall gain of 0.38%. Notably, Health Care exhibited the most substantial growth, rising by 1.25%, followed closely by Industrials and Financials, which saw increases of 1.07% and 1.02%, respectively. Materials and Consumer Staples also experienced notable gains at 0.97% and 0.83%. Real Estate and Energy sectors showed moderate growth at 0.83% and 0.64%, respectively. Conversely, Information Technology experienced a slight dip at -0.08%, while Consumer Discretionary and Communication Services showed more significant declines of -0.17% and -1.01%, respectively.

Currency Market Updates

In the latest currency market updates, the dollar rebounded at month-end, benefitting from position adjustments and a surprising drop in eurozone inflation compared to forecasts. Despite soft U.S. economic data, including personal income, spending, and core PCE figures, EUR/USD declined by 0.7%. The market’s anticipation of Federal Reserve Chair Jerome Powell’s forthcoming comments and the impending jobs report next week contributed to the dynamics. The dollar index experienced a 0.7% decline while finding support near the 61.8% retracement of the July-October advancement, yet the rebound was capped by the 200-day moving average at 102.57.

EUR/USD’s downward movement overlooked the subdued U.S. economic data, alongside expectations in the futures market of potential earlier and more substantial European Central Bank (ECB) rate cuts compared to the Fed’s projections for next year. The bearish trend in 2-year bund-Treasury yield spreads, diverging from rising EUR/USD prices since mid-November, added to the downward pressure. The currency pair may find support around the previous week’s low of 1.08525 and the November 17 swing low, as investors await further U.S. data.

Additionally, other major currencies reacted to the dollar’s resurgence: Sterling fell by 0.58%, while USD/JPY rose by 0.65% in its month-end rebound. These movements were influenced by technical levels, such as Fibonacci retracements, and the interplay between key moving averages. The broader scenario was influenced by the anticipation of yield spread dynamics between the Treasury and JGB (Japanese Government Bonds) and the Fed’s gradual shift towards easing, contributing to the possibility of substantial losses into 2024. Economic events such as the U.S. ISM manufacturing data for November, Powell’s policy comments, ISM non-manufacturing, JOLTS, and Friday’s non-farm payrolls report were anticipated as market movers in the coming days.

Picks of the Day Analysis

EUR/USD (4 Hours)

EUR/USD Faces Consolidation Amid Divergent Economic Data and Central Bank Speculations

The EUR/USD pair witnessed a notable pullback, hitting a low of 1.0883 after a recent surge past 1.1000. With the Eurozone CPI registering a slower annual increase in November, lingering below the ECB’s target, speculation looms regarding potential rate cuts. This news, coupled with the Euro’s lag against the Swiss Franc, hints at a short-term downside risk for the Euro. Meanwhile, the US Dollar, bolstered by recovering Treasury yields despite mixed US data, showcased resilience. As the market eyes the upcoming US ISM Manufacturing PMI release and ECB monetary policy, the pair remains poised for consolidation amidst divergent economic trends and central bank anticipations.

Chart EUR/USD by TradingView

On Thursday, the EUR/USD experienced a downward movement, creating a push to the lower band of the Bollinger Bands. Currently, the price moving slightly above the lower band, suggesting a potential upward movement, potentially reaching the middle band. Notably, the Relative Strength Index (RSI) maintains its position at 40, signaling a neutral with a slight bearish outlook for this currency pair.

Resistance: 1.0945, 1.1041

Support: 1.0842, 1.0760

XAU/USD (4 Hours)

XAU/USD Edges Down as Inflation Data Favors Rate-Cut Speculations

Gold prices slightly declined on Thursday as investors pivoted away from safe-haven assets in response to the release of US inflation data. The Core PCE Price Index rose by 0.2% MoM and 3.5% YoY in October, aligning with expectations but falling below September’s figures. This news was embraced by financial markets as an indication of the Fed’s likely shift toward a rate-cut monetary policy. Simultaneously, major economies like the Eurozone witnessed diminishing price pressures, evidenced by a decline in HICP figures. This trend bolstered hopes that central banks may forego additional rate hikes, averting a severe economic downturn. The flight from safety also impacted government bonds, propelling yields upwards, with the 10-year Treasury note at 4.32% and the 2-year note at 4.69%, although notably lower than previous peaks recorded in October.

Chart XAU/USD by TradingView

On Thursday, XAU/USD moves in a period of consolidation, currently oscillating between the middle and upper bands within the Bollinger Bands. This current movement suggests a potential upward trend, potentially reaching the upper band once again. The Relative Strength Index (RSI) stands at a level below 63, indicating that the bullish sentiment for this pair remains robust.

Resistance: $2,052, $2,079

Support: $2,038, $2,012

Economic Data

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

As November draws to a close, U.S. stock futures indicate a favorable end to the month for major indexes, propelled by surges in Salesforce and Snowflake following stellar earnings. Despite marginal movements in the Dow and S&P 500, both remain near their year-to-date highs, while the Nasdaq holds close to its 2023 peak. November promises to break the three-month losing streak, with the S&P 500 up 8.5% and Nasdaq near 11%, marking their strongest performance since July 2022. Positive market sentiments contrast declines in Asia-Pacific markets, with the focus shifting to potential Federal Reserve rate cuts in 2024. In the currency market, the dollar rebounded on speculations of faster rate cuts, impacting forex pairs and stirring market uncertainties amidst varying economic indicators and central bank remarks.

Stock Market Updates

In November’s final stretch, U.S. stock futures edged up, signaling a positive closure for the month across the major indexes. Wednesday’s after-hours trading saw Salesforce and Snowflake soaring due to better-than-expected earnings, with Salesforce marking an 8% surge and Snowflake climbing over 7%. Despite a marginal day for the Dow and S&P 500, both indexes hover just around 0.5% and 0.8%, respectively, from their year-to-date closing highs. Similarly, the Nasdaq Composite, though slipping 0.16% during the day, remains close to its 2023 closing high by about 0.7%.

November appears poised to end the three-month losing streak for the major indexes, with the S&P 500 marking an 8.5% gain and the Nasdaq nearly reaching an 11% increase. These figures represent their most robust monthly performance since July 2022. The Dow, up by 7.2% in November, is also on track for its best month since October 2022. Amidst higher interest rates, strategist Jay Woods remains optimistic about stocks holding onto their gains, citing positive price action and supportive economic data for the Fed’s stance on rates.

European stocks closed higher, reclaiming positive momentum as markets assessed Federal Reserve board members’ statements. The Stoxx 600 index closed 0.43% higher, with Germany’s DAX index maintaining gains above 1% following a report indicating a slowdown in German inflation for November, surpassing earlier forecasts. Meanwhile, Federal Reserve Governor Christopher Waller expressed growing confidence in the Fed’s policies to rein in inflation, hinting at potential rate reductions if inflation continues to ease in the next few months. However, despite a slight retreat in Wall Street’s earlier gains, the major U.S. indexes remained on course for significant gains in November, contrasting the overnight declines in Asia-Pacific markets, primarily led by losses in Hong Kong.

Data by Bloomberg

On Wednesday, the overall market experienced a slight decline of 0.09%. However, several sectors showed positive movements, with Real Estate leading the gains at +0.73%, followed closely by Financials at +0.71% and Materials at +0.38%. Industrials and Health Care also saw modest increases of +0.33% and +0.02%, respectively. Conversely, there were notable decreases in certain sectors, with Communication Services taking the biggest hit at -1.12%, followed by Energy at -0.88%, and Consumer Staples at -0.81%. Utilities and Consumer Discretionary also faced declines of -0.79% and -0.35%, respectively. Overall, while some sectors thrived, others encountered notable downturns during the trading day.

Currency Market Updates

In the currency market, the dollar index experienced a rebound of 0.14% after reaching oversold levels, largely influenced by speculation surrounding faster Federal Reserve rate cuts in 2024. This sentiment emerged following comments from Fed’s Waller, leading to expectations of a rate cut as early as May, with futures indicating a potential 114 basis points of cuts by 2024. Concurrently, the Euro saw a decline against the dollar, notably influenced by below-forecast German CPI, fostering a 42% probability of an ECB rate cut in March with an estimated 110 basis points of cuts by the end of 2024. The EUR/USD pair retraced to 1.0960, marking a critical level in its July-October slide.

While the dollar’s trajectory was influenced by expectations around Fed rate cuts, the market remained attentive to upcoming data releases and central bank remarks. The discrepancy among Fed speakers regarding progress in the inflation fight juxtaposed against economic indicators like Q3 GDP revisions, softer Q4 data, and core PCE adjustments to 2.3% contributed to the uncertainty. The movement of key pairs like USD/JPY, impacted by tumbling Treasury yields and contrasting JGB yields, indicated potential challenges for hefty speculative dollar longs. Amidst these fluctuations, sterling rose as it retraced a significant portion of its previous decline, echoing the broader market sentiment awaiting U.S. data releases and Fed Chair Jerome Powell’s commentary. Additionally, the Aussie and Chinese yuan pairs experienced declines and rebounds, respectively, influenced by below-forecast inflation and fluctuations in Fibonacci retracement levels indicative of market sentiment shifts.

Picks of the Day Analysis

EUR/USD (4 Hours)

EUR/USD Faces Volatility Amid Diverging Economic Signals

The EUR/USD surged to a three-month high at 1.1016 but retreated below 1.1000 despite burgeoning risk appetite. Europe witnessed a slowdown in inflation, notably in Germany and Spain, raising concerns about potential ECB rate cuts. Yet, this might not prompt immediate dovish action, as analysts anticipate a rebound in inflation over the next months. Meanwhile, the US economy revealed robust growth of 5.2% in Q3, lifting the US Dollar on confidence in its performance. However, recent indications of a slowdown before November 18 from the Beige Book compounded with upcoming critical US data—Core PCE Price Index and Jobless Claims—could exert further pressure on the Greenback if they reflect softening inflation and labor market conditions. Bond yields fell on both sides, especially in Germany, adding to the volatility gripping the EUR/USD pair.

Chart EUR/USD by TradingView

On Wednesday, the EUR/USD experienced a downward movement, settling around the middle range of the Bollinger Bands. Presently, the price exhibits a marginal increase above this midpoint, suggesting a potential upward trajectory, potentially reaching the upper band. Notably, the Relative Strength Index (RSI) maintains its position at 55, signaling a neutral outlook for this currency pair.

Resistance: 1.1041, 1.1087

Support: 1.0968, 1.0930

XAU/USD (4 Hours)

XAU/USD Dips Amid Dollar’s Recovery and Fed’s Inflation Sentiments

Spot Gold slid to $2,040 an ounce, pulled down by a resurgent US Dollar amidst profit-taking before pivotal data releases. Despite the Dollar’s bounce, its weakness persists on hopeful sentiments that the Federal Reserve might halt tightening measures. Conflicting views within the Fed add to the uncertainty: while Atlanta Fed President Bostic signals confidence in declining inflation, Richmond Fed President Barkin remains cautious, keeping the possibility of rate hikes alive. With US bond yields retreating to multi-week lows and market focus shifting to the upcoming inflation data, Gold’s trajectory hinges on signs of easing price pressures, poised to either bolster optimism or dampen USD demand.

Chart XAU/USD by TradingView

On Wednesday, XAU/USD underwent a period of consolidation, presently oscillating between the middle and upper bands within the Bollinger Bands. This current movement suggests a potential upward trend, potentially reaching the upper band once again. The Relative Strength Index (RSI) stands at a level below 69, indicating that the bullish sentiment for this pair remains robust.

Resistance: $2,052, $2,079

Support: $2,038, $2,012

Economic Data

Dear Client,

To provide a favorable trading environment to our clients, VT Markets will modify the trading setting of all share CFDs on Dec 4, 2023:

1. All Shares leverage is adjusted back to 33:1, and the leverage adjustment during opening and closing are cancelled.

2. 20 Pre-market US shares on MT5: Leverage will be 5:1 during 22:45-23:00 and 14:00-16:30 ; and remain 33:1 during the rest of the trading time.

3. The above data is for reference only, please refer to the MT4 and MT5 software for specific data.

Friendly reminders:

1. All specifications for Shares CFD stay the same except leverage during the mentioned period.

2. The margin requirement of the trade may be affected by this adjustment. Please make sure the funds in your account are sufficient to hold the position before this adjustment.

If you’d like more information, please don’t hesitate to contact [email protected].

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

Dear Client,

New contracts will automatically be rolled over as follows:

Please note:

• The rollover will be automatic, and any existing open positions will remain open.

• Positions that are open on the expiration date will be adjusted via a rollover charge or credit to reflect the price difference between the expiring and new contracts.

• To avoid CFD rollovers, clients can choose to close any open CFD positions prior to the expiration date.

• Please ensure that all take-profit and stop-loss settings are adjusted before the rollover occurs.

• All internal transfers for accounts under the same name will be prohibited during the first and last 30 minutes of the trading hours on the rollover dates.

If you’d like more information, please don’t hesitate to contact [email protected].