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 info@vtmarkets.com.

The post Dividend Adjustment Notice – November 22, 2023 first appeared on VT Markets.

Stock Market Updates

The stock market saw a decline following the release of the Federal Reserve meeting minutes, which indicated no plans for interest rate cuts. This led to the Dow Jones slipping by 0.18%, closing at 35,088.29, while the S&P 500 dipped 0.20% and the Nasdaq Composite fell by 0.59%. The Fed emphasized the need for a “restrictive” policy to combat potentially stubborn or rising inflation, maintaining the benchmark rate at 5.25% to 5.5%. Market expectations suggest the Fed will maintain this stance through its December meeting, with potential rate cuts anticipated from May onwards.

This environment of sustained higher rates impacted various sectors. Housing data revealed a tough month for homebuyers, with existing home sales dropping to 3.79 million units, the slowest pace since August 2010. Companies like Lowe’s and American Eagle faced stock declines due to reduced sales outlooks and weaker operating income guidance, respectively. Additionally, Amazon’s shares dropped 1.5% following news of former CEO Jeff Bezos selling 1.67 million shares. Amidst this, Nvidia, despite hitting an all-time high on Monday, experienced a slight dip in shares by 0.9% on Tuesday ahead of its earnings announcement.

Data by Bloomberg

On Tuesday, across all sectors, there was a slight downturn of 0.20%. However, some sectors experienced positive growth, with Health Care leading the way at +0.61%, followed by Materials (+0.40%), Consumer Staples (+0.35%), and Utilities (+0.22%). Conversely, Information Technology witnessed the most significant decline at -0.83%, while Consumer Discretionary (-0.38%) and Real Estate (-0.47%) also faced notable decreases. Communication Services showed marginal negative movement at -0.01%, and Energy (-0.21%), Financials (-0.04%), and Industrials (-0.05%) followed suit with minor decreases.

Currency Market Updates

In recent market updates, the US dollar index showed a slight rebound after a 4% decline following the November 1st Federal Reserve meeting. This recovery was driven by short positions taking profits ahead of the release of the Federal Open Market Committee (FOMC) minutes. However, the dollar’s decline had been influenced by soft data on jobs, CPI, and retail sales, contributing to market volatility. Despite falling Treasury yields, profit-taking affected the Nasdaq index, reflecting the broader susceptibility of markets to traders’ profit-booking strategies. The dollar’s trajectory remains tied to economic forces, exemplified by existing home sales falling below forecasts and hitting their lowest since 2010, indicating the substantial impact of the Fed’s 5.25% rate hike, which could continue to exert pressure on the dollar’s value.

Meanwhile, in currency pairs, the EUR/USD saw a 0.33% decrease, retracting from earlier gains and hovering around the 61.8% Fibonacci level. The market sentiment differs between pairs, with USD/JPY showing increased speculative long positions compared to EUR/USD, potentially influencing a downward trend. Expectations regarding rate cuts diverge between the European Central Bank (ECB) and the Federal Reserve, with markets leaning towards rate adjustments in April for the ECB and May for the Fed. Additionally, the Sterling rose to a 10-week high against the dollar, backed by relatively hawkish comments from Bank of England speakers, despite market pricing predicting a potential rate cut by June. Other currency pairs, such as USD/CAD and USD/CNY, exhibited varied movements influenced by economic indicators and reports, underscoring the complex interplay of factors affecting currency markets. Looking ahead, upcoming releases like U.S. durable goods and jobless claims are anticipated to impact market sentiments and currency valuations.

Picks of the Day Analysis

EUR/USD (4 Hours)

EUR/USD Corrects from Three-Month High Amid Dollar Strength

The EUR/USD pair retreated on Tuesday following a recent peak, marking a corrective move amidst a weaker US Dollar. Factors including steady yields and a dip in equities favored the Greenback, causing the Euro to lag. US data revealed a larger-than-expected drop in Existing Home Sales, impacting market sentiment. Meanwhile, upcoming reports like Jobless Claims, Durable Goods Orders, and the University of Michigan Consumer Sentiment will likely influence further market movements. The FOMC minutes reiterated concerns about inflation, signaling potential future tightening measures. The Euro’s performance was also affected by a decline against the GBP, with anticipation building for the Eurozone’s preliminary November PMIs as the next key report.

Chart EURUSD by TradingView

In technical analysis, the EUR/USD is showing a strong upward trend on early Tuesday just to end the day weaker able to reach the middle band of the Bollinger Bands. It’s currently trading just around this level, indicating the possibility of another upward movement. The Relative Strength Index (RSI) at 57 shows a neutral but slightly bullish stance.

Resistance: 1.0956, 1.1004

Support: 1.0885, 1.0832

XAU/USD (4 Hours)

XAU/USD Surges Towards Key Resistance Amidst Dollar Stability

Spot Gold demonstrated a robust surge on Tuesday, rallying from sub-$1,980 levels to approach a significant resistance mark at $2,010. This bullish movement occurred despite a dip in stock prices and a stabilized US Dollar. The climb coincided with steady US yields, showcasing resilience after briefly touching $2,007 before retracing toward $2,000. The prevailing upward bias hinges on the anticipation that the Federal Reserve has halted interest rate hikes, bolstering Gold’s appeal. However, while market attention focuses on the upcoming FOMC minutes and critical US data releases like Jobless Claims and Durable Goods Orders, a more aggressive Gold rally may hinge on a clear downturn in Treasury yields signaling a peak, as of now, keeping the metal’s surge subdued.

Chart XAUUSD by TradingView

In technical terms, the analysis shows that XAU/USD moved higher on Tuesday, able to reach the upper band of the Bollinger Bands. The gold price is currently moving back below this band, suggesting a possible minor increase to reach back to the upper band. With the Relative Strength Index (RSI) at 63, it signals a continuing slight bullish trend for the XAU/USD pair.

Resistance: $2,008, $2,040

Support: $1,993, $1,973

Economic Data

The post Fed’s Firm Stand on Rates Spurs Market Decline first appeared on VT Markets.

In order to provide you with a better user experience, VT Markets will update our MT5 software on November 25, 2023 (Saturday), requiring a minimum version of 3980 and Windows 10. During this upgrade period, the MT5 trading software will be temporarily unavailable for login and use. However, this will not impact your existing trading orders, and there will be no changes to your trading account or login password for the software.

If your current software version has not been updated, we sincerely recommend that you upgrade it after November 25, 2023.

Check your MT5 software version with the following steps:
※ PC: Open the MT5 software>Help>About;
※ Android: Open the MT5 app>About;
※ iOS: Open the MT5 app>Settings>Settings.

For PC users, if you have not upgraded to the latest version, please uninstall the old version and reinstall the latest version by following the link below:
PC download link
Android download link
iOS download link
Huawei Download link

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

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com

The post Notification of VT Markets MT5 Software Version Upgrade – November 22, 2023 first appeared on VT Markets.

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 info@vtmarkets.com.

The post Dividend Adjustment Notice – November 21, 2023 first appeared on VT Markets.

Stock Market Updates

The stock market surged at the start of the week, with tech giants like Microsoft and Nvidia leading the charge. Microsoft saw a 2% rise, hitting a new high, following the announcement of former OpenAI chief Sam Altman joining to spearhead a new AI research team. Simultaneously, chipmaker Nvidia climbed 2.3%, reaching an all-time high just before its earnings report. This drove the Dow Jones Industrial Average up by 203.76 points, marking a 0.58% increase to close at 35,151.04. The S&P 500 also saw gains of 0.74%, finishing at 4,547.38, and the Nasdaq Composite surged 1.13% to close at 14,284.53, both marking their fifth straight day of growth.

The tech and communication services sectors notably drove these gains, witnessing increases of 1.5% and 1%, respectively. With Thanksgiving approaching, markets prepared for closure on Thursday and a shortened trading day on Friday. Despite historical choppiness around this holiday, November has consistently proven to be the S&P 500’s most successful month. Additionally, investors were buoyed by recent lower-than-anticipated U.S. inflation data, easing concerns about persistently high prices and suggesting the possibility of the Federal Reserve halting interest rate hikes. This trend further supported asset values, particularly with the concurrent drop in Treasury yields. However, market watchers remain vigilant about potential fiscal spending and deficit concerns, which could trigger upward pressure on yields. Wall Street is eagerly awaiting the release of the latest Fed minutes scheduled for Tuesday.

Data by Bloomberg

On Monday, the market saw a positive trend across most sectors, with a general increase of 0.74%. The standout performers were Information Technology and Communication Services, surging by 1.50% and 1.05%, respectively. Real Estate also demonstrated strength with a 0.79% rise, followed closely by Health Care and Consumer Discretionary, both gaining 0.52%. However, sectors like Utilities and Consumer Staples experienced slight declines of -0.31% and -0.01% respectively, while Energy and Materials showed marginal increases of 0.12% and 0.15%. Overall, the market exhibited broad positivity, particularly in the tech and communication sectors, driving the day’s gains.

Currency Market Updates

The recent fluctuations in the currency market, particularly concerning the US dollar, have been influenced by various economic indicators and shifting market sentiments. The dollar index experienced a notable decline, dropping by 0.49% and breaching key levels, primarily due to increased risk appetite following heightened expectations of a Federal Reserve rate cut. This shift was triggered by softer-than-expected US CPI data, causing the dollar’s safe-haven status to wane as risk-on flows took precedence in determining its value.

Despite certain supportive comments regarding disinflation from Richmond Fed President Thomas Barkin and the adjustment in yield spreads favoring the dollar, the currency continued its downward trajectory post-soft CPI release. The market’s anticipation of more disinflationary US data adds weight to the likelihood of an earlier Fed rate cut, potentially moving from June-July expectations to a more imminent cut in May. This shift aims to mitigate the risk of a severe economic downturn and further diminishes the dollar’s safe-haven appeal, influenced significantly by market perceptions rather than traditional indicators like yield spreads.

Looking ahead, market attention is directed toward crucial economic events such as Tuesday’s US existing home sales and the release of Fed meeting minutes. However, the pivotal moment arrives with Wednesday’s jobless claims data, as an above-forecast figure could intensify the substantial sell-off of USD/JPY, possibly pushing it below crucial support levels. This recent market sentiment has seen other major currencies like the Euro and Sterling make gains against the dollar, influenced not just by traditional yield spreads but more prominently by the selling pressure on the dollar as equities rallied.

Picks of the Day Analysis

EUR/USD (4 Hours)

EUR/USD Surges Amid Dollar’s Slide: Fed Minutes Awaited Amidst Economic Data

The EUR/USD soared to a three-month high around 1.0950 as the US Dollar continued its downward trajectory, driven by market expectations of the Fed’s halted interest rate hikes and Wall Street’s buoyant stock prices. The US Dollar Index (DXY) hit a low of 103.45, seeking stability amidst its decline. Anticipation builds for the Fed’s meeting minutes while key US data on the Chicago Fed National Index and Existing Home Sales are on the horizon. Meanwhile, Europe gears up for the release of crucial preliminary November PMIs. Despite the risk-on sentiment favoring the EUR/USD, the US economy’s stronger performance against the Eurozone remains a fundamental support for the Dollar’s outlook.

Chart EURUSD by TradingView

In technical analysis, the EUR/USD is showing a strong upward trend on Monday, nearing the upper band of the Bollinger Bands. It’s currently trading just below this level, indicating the possibility of further upward movement. The Relative Strength Index (RSI) at 77 confirms a consistent bullish trend in the market.

Resistance: 1.1004, 1.1042

Support: 1.0937, 1.0885

XAU/USD (4 Hours)

XAU/USD  Recovers from Dip Amid Dollar Vulnerability and Fed Expectations

Spot Gold faced a dip to $1,965 before bouncing back during the Asian session, indicating ongoing upside potential against a weakened US Dollar and decreasing Treasury yields. Despite the Greenback’s monthly lows and a subdued bond market, both Gold and Silver are not responding to the buoyant market sentiment. With anticipation building around the Federal Reserve’s meeting minutes release, the prevailing belief that the Fed might have concluded its rate hikes is impacting the Dollar’s short-term prospects, sustaining the upside potential for Gold.

Chart XAUUSD by TradingView

In technical terms, the analysis shows that XAU/USD is on an upward trajectory this Monday, targeting the upper band of the Bollinger Bands. The gold price is presently just under this band, suggesting a possible minor increase to reach the upper band. With the Relative Strength Index (RSI) at 62, it signals a continuing slight bullish trend for the XAU/USD pair.

Resistance: $1,992, $2,008

Support: $1,973, $1,955

Economic Data

The post Tech Giants Propel Stock Market Surge as Investors Eye Thanksgiving Closure and Fed Minutes first appeared on VT Markets.

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 info@vtmarkets.com.

The post Dividend Adjustment Notice – November 20, 2023 first appeared on VT Markets.

Various events look set to impact the markets this week. In addition to minutes from the Fed’s November meeting, market movements will likely also be shaped by the release of updated flash services and manufacturing PMI figures. 

Traders should maintain caution and closely monitor the following developments for a successful trading week:

Canada’s Consumer Price Index (21 November 2023) 

The consumer price index for Canada decreased by 0.1% in September 2023 compared to the previous month.

Analysts anticipate a 0.1% increase in the figures for October, which are set to be released on 21 November.

FOMC Meeting Minutes (22 November 2023) 

The Fed kept the target range for the federal funds rate at 5.25–5.5% for a second consecutive time in November, reflecting policymakers’ dual focus on returning inflation to 2% while avoiding excessive monetary tightening.

At a press conference, Fed chair Powell stated that rate cuts have not been discussed and that the focus remains on potential hikes by the central bank.

US Durable Goods Orders (22 November 2023)

New orders for manufactured durable goods in the United States surged by 4.6% month-over-month in September 2023, rebounding from a 0.1% contraction in August.

Analysts anticipate a 3.2% decrease in the figures for October, which are set to be released on 21 November.

Flash Manufacturing PMI for Germany and the UK (23 November 2023)

Germany’s manufacturing PMI increased from 39.6 to 40.8 between September and October 2023. Meanwhile, the UK’s manufacturing PMI increased from 44.3 to 44.8 during the same period.

New PMI figures will be released on 23 November. Analysts’ predicted manufacturing PMIs are 41.2 for Germany and 45 for the UK.

Flash Services PMI for Germany and the UK (23 November 2023)

Germany’s services PMI declined from 50.3 to 48.2 between September and October 2023. Meanwhile, the UK’s services PMI increased from 49.3 to 49.5 during the same period. 

New PMI figures will be released on 23 November. Analysts’ predicted services PMIs are 48.5 for Germany and 49.5 for the UK.

Flash Services and Manufacturing PMI for the US (24 November 2023)

The US’ flash manufacturing PMI was 50 in October 2023, marking a slight increase from 49.8 in September. In the same period, the US’ flash services PMI rose from 50.1 to 50.6.

Analysts predict that the US’ manufacturing PMI for November 2023 will decrease to 49.8 while the US’ services PMI will also fall to 50.3.

The post Week Ahead: FOMC Meeting Minutes and Flash Services PMI Reports from the US, UK, and Germany first appeared on VT Markets.

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 info@vtmarkets.com.

The post Dividend Adjustment Notice – November 17, 2023 first appeared on VT Markets.

Stock Market Updates

In Thursday’s stock market session, the Dow Jones Industrial Average concluded lower, halting its recent four-day winning streak, slipping by 0.13% to close at 34,945.47. Similarly, while the S&P 500 marginally increased by 0.12%, closing at 4,508.24, the Nasdaq Composite showed a slight uptick of 0.07%, ending at 14,113.67. This pullback was influenced by significant declines in specific stocks: Cisco Systems plummeted nearly 10% following a disappointing outlook for the current quarter and full fiscal year, while Walmart saw an 8% decline after issuing a below-expectation forecast, making them the primary detractors in the Dow. Chevron also experienced a dip of 1.6% as U.S. crude oil prices observed a 5% fall.

Despite this pause in the November rally, the overall trajectory for the month has been positive, with the three major indexes showing approximately 2% gains each. The market was buoyed earlier in the week by encouraging inflation reports: October witnessed a substantial 0.5% decline in the producer price index, the most significant drop since April 2020, while the consumer price index remained stable, reinforcing investor hopes that the Federal Reserve might be content with the moderating inflation trend. As a result, the S&P 500 surged over 7%, the Dow ascended by 5.7%, and the Nasdaq soared by 9.8%, indicating substantial growth across these indices for the month.

Data by Bloomberg

On Thursday, most sectors saw positive gains, with Communication Services leading with an increase of 0.94%, closely followed by Information Technology at 0.68%. Utilities and Health Care also showed moderate growth at 0.45% and 0.38%, respectively. However, Energy experienced a notable decline of 2.11%, while both the Consumer Staples and Consumer Discretionary sectors saw significant decreases of 1.20% and 0.91%, respectively. Real Estate had minimal growth at 0.03%, while Industrials slightly dipped by 0.06%. Financials and Materials showcased modest gains of 0.32% and 0.24%, respectively, painting a mixed picture across various sectors on the trading day.

Currency Market Updates

The USD index experienced a slight decline during the trading session following higher-than-expected weekly U.S. jobless claims, which prompted a downward movement in U.S. Treasury yields. This weakening trend in the dollar persists due to ongoing speculation among traders regarding the anticipated timing and magnitude of rate cuts by the U.S. Federal Reserve. As a result, the EUR/USD pair saw a marginal increase of 0.1% to reach 1.0857, buoyed by the decrease in USD yields, albeit stalling near 1.09 amidst anticipation of potential Fed rate adjustments. Conversely, USD/JPY retreated from its earlier high at 151.30 to 150.47 due to the narrowing U.S.-Japan yield spreads, showcasing cautiousness among USD bulls regarding potential intervention by the Ministry of Finance near the 152 mark.

GBP/USD experienced fluctuations, sliding from its post-claims highs at 1.2455 to 1.2420, unable to sustain above the 200-day moving average at 1.2442. Despite this, the cable remained supported by its daily cloud top and upper 30-day Bolli, while the falling Fed rate expectations favored GBP bulls in contrast to the Bank of England’s slower anticipated rate adjustments. Additionally, AUD and CAD witnessed declines owing to decreasing commodity prices and a dimmer outlook on global growth. Meanwhile, amidst falling yields, gold surged by 1.3% to $1,985, silver rose by 1.9% to $23.9, while Bitcoin faced a 4.2% decline to $36.3k, encountering selling pressure after peaking around $38k.

Picks of the Day Analysis

EUR/USD (4 Hours)

EUR/USD Retracement Amidst Fed Sentiment

The Federal Reserve’s apparent conclusion on interest rate hikes following subdued inflation data triggered a Dollar retreat. However, the USD showcased resilience post-data release, backed by a rebound in US yields. While the negative Dollar sentiment prevails, the USD’s strength is evident against a backdrop of comparatively robust US economic performance. This correction in EUR/USD is viewed as a temporary adjustment in light of ongoing market expectations regarding the Fed’s stance on rates. The coming US economic data could further impact the pair’s movement.

Chart EURUSD by TradingView

Technical analysis shows a flat movement in the EUR/USD on Thursday as it moves near the middle band of the Bollinger Bands. Presently, the pair is trading between the middle and upper bands, hinting at a potential slight decline towards the middle band. Additionally, the Relative Strength Index (RSI) stands at 64, indicating a sustained bullish bias.

Resistance: 1.0890, 1.0935

Support: 1.0835, 1.0772

XAU/USD (4 Hours)

XAU/USD  Surges Amidst Weaker Dollar and Economic Reports

Spot Gold, represented by XAU/USD, surged as it broke above the $1,975 resistance level, reaching its highest point in over a week. The rally was fueled by a weaker US Dollar and declining Treasury yields. Despite reports showing a rise in weekly Jobless Claims and a contraction in Industrial Production, Gold soared over $20, propelled by technical factors and the growing sentiment that the Federal Reserve is halting interest rate hikes. With the focus now on the bond market’s volatility and overall risk sentiment, the looming question is the potential height of XAU/USD’s weekly close, as upcoming US data is unlikely to significantly alter the current trajectory.

Chart XAUUSD by TradingView

Technical analysis indicates that XAU/USD moving higher on Thursday, aiming for the upper band of the Bollinger Bands. Currently, the gold price hovers slightly below this band, hinting at a potential slightly higher movement to push the upper band. The Relative Strength Index (RSI) is currently at 65, indicating that the XAU/USD pair is still exhibiting a slight bullish bias.

Resistance: $1,992, $2,008

Support: $1,973, $1,955

Economic Data

The post Dow Slips as Cisco and Walmart Drive Declines, November’s Positive Trajectory Pauses | Currency Trends and Commodity Movement first appeared on VT Markets.

To provide you with more diverse trading options, VT Markets will launch 2 new products on 20th Nov 2023.

You can now trade the world’s popular products on MetaTrader 4 and 5 with the following specifications:

The above data is for reference only, please refer to the MT4 and MT5 platforms for the updated data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

The post New Products Launch – November 17, 2023 first appeared on VT Markets.