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].

CURRENCIES

Gold Price Technical Analysis:

• Recent Performance:
  • Gold (XAU/USD) dropped on Monday after failing to break trendline resistance at $2,375 on Friday.
  • Prices slipped back below $2,350 at the start of the new week.
• Potential Downside:
  • Support zone near May’s low and the 50-day simple moving average around $2,280.
  • If this support fails, attention shifts to $2,260.
• Potential Upside:
  • If bulls regain control, the first technical hurdle is $2,350.
  • Next resistance at the dynamic trendline, currently crossing $2,365.
  • Further upward movement could lead to a rally towards $2,420 and possibly $2,430.

EUR/USD Forecast:

• Recent Performance:
  • EUR/USD advanced on Monday, clearing its 50-day and 200-day simple moving averages near 1.0785.
• Potential Upside:
  • Sustaining the bullish breakout, overhead resistance stretches from 1.0805 to 1.0810.
  • A move beyond this barrier could lead to 1.0865, the 50% Fibonacci retracement of the 2023 selloff.
• Potential Downside:
  • If sellers drive the pair below the moving averages, sentiment could sour.
  • This may lead to a pullback towards 1.0725 and 1.0695.
  • Further losses could trigger a descent towards 1.0650, May’s trough.

USD/JPY Forecast:

• Recent Performance:
  • USD/JPY continued its upward trajectory on Monday, consolidating above 156.00.
• Potential Upside:
  • If momentum continues, resistance at 158.00 and then 160.00.
  • Exercise caution due to potential FX intervention by Japanese authorities, which could cause a rapid decline.
• Potential Downside:
  • Initial support at 154.65 during a pullback.
  • A breakdown could lead to a decline towards 153.15.
  • Persistent weakness may shift focus to trendline support and the 50-day simple moving average near 152.50.

STOCK MARKET

European and US Markets:

• European stocks and US equity futures remained within small ranges as investors awaited upcoming US inflation reports.
• Japanese bond yields climbed to decade highs.

Key Market Movements:

Europe:

• Stoxx Europe 600 index remained near a record high.
• Anglo American Plc: Edged higher following major company shake-up to counter BHP Group takeover approach.
• Delivery Hero SE: Soared up to 20% after selling its Taiwan business.
• Alcon Inc.: Jumped after an earnings beat.
• Rheinmetall AG: Dropped after missing earnings expectations.

US:

• S&P 500 and Nasdaq 100 futures showed little change.
• Regional Asian share gauge climbed, with Chinese tech shares among notable gainers.
• Earnings Reports: Tencent Holdings Ltd. and Alibaba Group Holding Ltd. to report later Tuesday.

Currencies and Bonds:

• Bloomberg dollar index remained flat.
• 10-year Treasury yields were little changed ahead of US producer prices report.
• Federal Reserve Chair Jerome Powell scheduled to speak.
• Consumer price index due Wednesday, expected to show moderation but still high.

Expert Insight:

• Oppenheimer & Co. Inc. Chief Strategist John Stoltzfus expects April CPI report to be central to market focus, with near-term volatility presenting investment opportunities.

Japan and Commodities:

Japan:

• 20-year government bond yield hit its highest level since 2013.
• Speculation of Bank of Japan reducing debt-buying to ease yen pressure.
• Japanese yen extended losses against the greenback to a two-week low.

Commodities:

• Oil: Held gains ahead of OPEC’s market outlook release.
• Iron Ore: Slumped after major Chinese developer defaulted, indicating ongoing debt crisis in China’s property sector.
• Industrial Metals: Nickel and copper climbed.
• Gold: Steady after a decline of more than 1% on Monday.

Click here to open account and start trading.

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,

To provide a favorable trading environment to our clients, VT Markets will modify the trading setting of all Shares on May 20th, 2024:

1. All Shares products leverage will be adjusted to 33:1.

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

3. MT5 20 pre-market US Shares: TSLA, NVIDIA, NFLX, META, GOOG, AMAZON, AAPL, ALIBABA, MSFT, SHOP, BOEING, IBM, BAIDU, JPM, EXXON, INTEL, TSM, MCD, ORCL, DISNEY.

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 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].

CURRENCIES

US Dollar Movement:

• The US Dollar showed indecision last week, with upcoming US Consumer Price Index (CPI) data on Wednesday poised to potentially set a clear direction. Should the CPI align with consensus, impact may be muted, but deviations could significantly influence the dollar due to its effects on interest rate expectations.

Gold’s Market Position (XAU/USD):

• Gold attempted to continue its bullish trend as military actions escalated in Rafah. The metal ended the week on a higher note, overcoming previous downward movements and trendline resistance challenges. Future movements are likely tied to the upcoming US inflation report, which impacts Treasury yields and the dollar, potentially pushing gold towards testing its all-time high.

Sterling and Euro Focus:

• The British Pound will react to upcoming labor market data and Federal Reserve commentary. The Euro is set to respond to sentiment data and other US-centric reports and speeches.

US Labor Market Insights:

• Initial signs of a softening labor market appeared with disappointing Non-Farm Payroll (NFP) data and higher than expected jobless claims, which could restrain USD gains. However, an unexpectedly high CPI could counteract this trend.

Federal Reserve Influence:

• Statements from prominent Federal Reserve figures, including Jerome Powell, are anticipated over the coming week. Their impact might be limited unless new significant data emerges since the May 1st Fed meeting.

STOCK MARKET

Market Movements Last Week:

• The Nasdaq Composite (^IXIC) experienced a rise of just under 1%.
• The S&P 500 (^GSPC) saw a notable increase of almost 2%, surpassing the 5,200 mark for the first time since early April.
• The Dow Jones Industrial Average (^DJI) enjoyed a growth of over 2%, marking its eighth consecutive session of gains.

Key Economic Updates This Week:

• The focus this week will be on the crucial April inflation reading and a retail sales update which are likely to influence market sentiments.
• Initial jobless claims will also be closely watched following a surprise nine-month high in the first week of May.

Corporate Earnings Insights:

• Corporate reports are expected to slow down with Walmart (WMT), Home Depot (HD), and Alibaba (BABA) scheduled to release their quarterly earnings.

Inflation Expectations and Impact:

• The first look at April’s Consumer Price Index (CPI) is anticipated this Wednesday, with analysts predicting a year-over-year increase of 3.4%.
• Core inflation, excluding food and energy, is also expected to show a slight deceleration compared to the previous month.

Economic Analysts’ Perspectives:

• Morgan Stanley expects the April CPI report to signify the start of easing inflation pressures, particularly in sectors like car insurance, rent, and healthcare.
• Fundstrat’s Tom Lee suggests that softer CPI data could increase the likelihood of more Federal Reserve interest rate cuts, which would be beneficial for the stock market.

Retail Sector Performance:

• The upcoming retail sales report will shed light on consumer spending trends, with a focus on whether there is a slowdown from the 0.7% increase observed in March.
• Performance of major retailers like Home Depot and Walmart will provide additional insights into consumer behavior, particularly in discretionary versus non-discretionary spending.

Market Reaction to Economic Data:

• The market’s response to economic data has been mixed, with recent inflation data causing concerns about persistent high prices affecting the potential for interest rate cuts.
• Investors are increasingly sensitive to economic indicators that could impact the Federal Reserve’s policies and the broader economic outlook.

Click here to open a live account and start trading.

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].

CURRENCIES

EUR/USD Overview:

• Recently rallied after rebounding from support at 1.0725, now testing resistance near 1.0790 where the 50-day and 200-day SMAs converge.
• Potential rise to trendline resistance at 1.0810 and possibly a major Fibonacci level at 1.0865 if upward momentum continues.
• Should the price reverse, support is at 1.0725 and 1.0695; a break below could lead to a decline towards 1.0645 and possibly April lows at 1.0600.

USD/JPY Technical Analysis and Price Outlook:

• Held steady above 155.00 after a strong rally; next resistances are at 158.00 and 160.00.
• A pullback could see support at 154.65, with further downside targets at 153.15 and the 152.30-152.00 range, where significant technical indicators align.

GBP/USD Technical Analysis and Price Outlook:

• Post Bank of England meeting, the GBP/USD briefly dipped then surged past the 1.2500 mark.
• Upcoming resistance at 1.2540 near the 200-day SMA, with further potential up to the 1.2600-1.2620 range.
• Downside risks include support at 1.2500 and 1.2430; failure to hold these levels could push prices towards the April low around 1.2300.

STOCK MARKET

Recession-Proof Stocks Lead Market’s Uptrend:

• After a rough April, the market rebounds led by recession-proof stocks.
• Utilities sector (XLU) surged nearly 12%, topping its gains for the year.
• Consumer Staples (XLP) also up nearly 5% in the same timeframe, while S&P 500 overall gained approximately 2.7%.

Sector Analysis:

• Utilities (XLU):
  • Entered March trading at a significant valuation discount since 2009.
  • Recent 26.7% earnings increase this quarter drives sector interest.
  • Interest rate sensitivity noted as Treasury yields fell, boosting sector performance.
• Consumer Staples (XLP):
  • Underperformed the S&P 500 by almost 30% over the past year.
  • Identified as a potential buying opportunity due to its defensive nature.

Strategist Insight:

• Keith Lerner, Truist co-chief investment officer:
  • Suggests the strong performance is a result of investor rotation into sectors that have lagged in the recent market rally.
  • Describes the current market sentiment as cautious, with investors favoring more defensive stock positions amidst broader market upswing.

Economic and Sector Drivers:

• Recent economic slowdown evident from a weaker jobs report and contraction in manufacturing in April.
• Growing interest in AI and electric vehicles speculated to boost demand in the Utilities sector.

Click here to create account and start trading.

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,

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

Maintenance Hours :
11th of May 2024 (Saturday) 18:00 – 24:00 (GMT+3)

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. It is suggested that you manage the account properly.

Please refer to the MT4/MT5 software for the specific maintenance completion and marketing opening time.

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].