We are delighted to inform our clients on the accessibility of trading stock CFDs starting April 10, 2018, Tuesday. This exclusive asset class is our latest additional offering among others that will soon be available on our MT5 platform.
Exclusive Change Capital, as an Investment Firm incorporated under the laws of Cyprus with registration number: HE 337858, proudly announces the acquisition of its license number CIF 330/17.
Our company proudly announces the acquisition of its Portfolio Management licence as of April 16, 2018. This licence endeavours our ongoing attempts in the provision of quality and high-ended services in a wider spectrum.
Exclusive Capital is delighted to announce that Marshall Gittler, Chief Investment Strategist for ACLS Global, will be consulting with our portfolio investment team and contributing his FX commentary to our website. Mr. Gittler is well known as a strategist, investment specialist, and economist, with decades of experience working for the major investment banks in Europe and Asia.
Exclusive Change Capital Ltd. is pleased to announce that it has received the International Quality Certification ELOT EN ISO 9001:2015. This certification is addressed to organizations that wish to ensure their ability to provide products and services that meet customer requirements and comply with the legal framework.
We would like to congratulate the young Cypriot athlete Petros Englezoudis on having a great athletic year and becoming a Youth Champion in Skeet Shooting 2019.
As the latest situation in the Middle East has become one of the most recently discussed topics, our Head of Investment Research Vrasidas Neofytou will analyse the geopolitical developments on RIK1 TV program «Απο Μερα σε Μερα» on Wednesday, September 18th at 12:20 pm.
Since 2012 the Finance Magnates’ London Summit has been the leading event for professionals within the financial industry.It is a superb meeting place for finance-oriented individuals, entities, and organizations, such as liquidity providers, marketing specialists, brokers, and banks for educational and networking purposes.
It was our pleasure to be a part of three magical evenings in Episkopi Village, Limassol supporting the charity Christmas Village activities which took place from the 20th till 22nd of December, 2019.
Following a great effort from Exclusive Capital's management team to reduce smoking among employees during 2019, the company`s directors have decided to grant additional 5 days paid annual leave as a reward to those employees who make an effort not to smoke or to quit smoking.
Take advantage of an institutional infrastructure while remaining at the forefront of the latest financial market developments. Our reputation will ensure that you exceed your client’s expectations for service, pricing, and security.
At Exclusive Capital our portfolio management team is carefully selected based on sophisticated knowledge and vast experience. Our capabilities offer robust portfolio management services.
Exclusive Capital takes an innovative approach in delivering returns by utilizing investment strategies in private equity, venture capital, tangible assets, and extensive alternatives.
We provide an exceptional trading experience utilizing cutting edge technology with highly competitive spreads. If you are looking for an investment proposition that best matches your needs, we have the tools to help.
We have developed an in-depth understanding of the intricacies of wealth to deliver insightful and effective advice for investment. Our investment process is characterized by rigor and discipline and is reflected through the quality of our work.
The European Commission, amid the coronavirus outbreak, approved a Finnish guarantee plan of around $671 million (€600 million) in supporting the maritime companies.
The plan was approved by the state aid Temporary Framework and adopted in March this year.
The maritime operators that are maintaining the security of supply to Finland will have access to this scheme.
The goal of the Finnish guarantee plan is to support the companies in terms of liquidity, operations, maritime cargo traffic, supplies to Finland, and cover the working capital needs following the coronavirus outbreak.
Moreover, as per the Executive Vice-President in charge of competition policy, Margrethe Vestager, the Finnish guarantee plan will assist the companies transporting supplies to Finland to somehow cover their immediate or urgent working capital needs.
The Nasdaq Composite is due for a V-turn shaped recovery, bouncing about 45% off its March 23rd low. The heavy-tech index is sitting just below its record high, set at the end of February, before the pandemic selloff began. That rally has been led largely by mega-cap tech stocks such as Amazon, Netflix, Apple, Facebook, Google-parent’s Alphabet and Microsoft.
Coronavirus Update:
Global cases: More than 6.27 million Global deaths: At least 375,656 U.S. cases: More than 1.81 million U.S. deaths: At least 105,147
Market Reaction:
US stock markets rose on Tuesday amid hopes of reopening of global economic activity after the removal of pandemic-related lockdowns.
Fig.01: Nasdaq Composite, Daily chart
However, investor remain concerned that the U.S. President Donald Trump will deploy the military if states and cities failed to show signs that they controlled the recent demonstrations sparked by the killing of George Floyd.
Asian markets finished the day higher on Tuesday, extending yesterday’s gains on the de-escalation of trade tensions between US and China over Hong Kong’s status. Nikkei and Hang Seng indices led the gains with 1.2%, followed by Kospi and CSI 300.
Crude oil:
WTI and Brent crude oil prices continue their upward momentum, climbing to 3-month highs of $36.20 and $39.30 per barrel, respectively.
Fig.02: Brent crude oil, Daily chart
Oil prices climbed ahead of the OPEC+ meeting on Thursday, to agree whether extending their production cuts of 9.7 million barrels per day, the cut quota for May-June period, for another 3 or 6 months.
Forex Market:
Trade-sensitive Australian and New Zealand dollars have been the best performing currencies since April. Both being risky currencies are gaining support from the signs of the Chinese economic recovery, the de-escalation of trade tensions and the rally in the prices of iron ore and other commodities. The AUD/USD pair reached the 0.68 level, recovering all the pandemic-related losses, after it bottomed at 0.55 in mid-March.
Fig.03: AUD/USD pair, Daily chart
The DXY-dollar index fell below the 97.70 level, as the improved risk sentiment over the opening of the global economies, has sent investors away from traditional safety currencies. Furthermore, the US dollar fell at its weakest level since mid-March amid the massive violent protests in major US cities following the death of George Floyd in police custody.
Slack Technologies Inc. and Zoom Video Communications were blasted with numerous users amid the COVID-19 outbreak.
This week June 1 – June 5, 2020 will be a critical appraisal time frame as to how many users are paying for the services, and what are the costs encountered in supporting the users.
Today, Tuesday afternoon, Zoom will report its quarterly earnings, while announcing a topping of 200 million daily meeting participants in April, featuring a record of 20 times more compared to last year. This number was also the result of schools aiming to operate remotely worldwide.
Slack’s “simultaneously connected” users rose by 25% within a week in March, as well as adding 80% more paying customers within a period of two months compared to the previous quarters. Slack will be reporting Thursday afternoon.
Since both companies provide mostly in many cases fee plans, it is somehow not very clear on how well their financially gaining, despite that their shares rocketed in the recent months.
Apart from the earning factor, both companies had to bear with higher costs in regards to maintaining the necessary computing power to support the users during the lock down.
Zoom’s market capitalization surpassed $50 billion for the first time last Friday with shares sold more than $200 compared to the 2019 initial public offering of $36. Slack also traded amazingly higher, and now worth more than $20b.
Local banks in Singapore have cut interest rates on savings accounts, amid the coronavirus outbreak. OCBC Bank announced a further reduction in rates since May.
Following the weaker interest rate conditions, and the challenges within the Macro environment, the OCBC stated that it will minimize the salary credit bonus interest on the OCBC 360 savings account as of July 1, 2020.
The salary credit bonus interest for balances up to $35k will be cut in half from 1.2% to 0.6%. The balances between $35k and $70k will accumulate 1.2% which is much less than the initial 2.4% rate.
The OCBC will also cease to offer credit card spend bonus interest, currently at 0.2%, for the first $35k, and 0.4% for the next $35k as of July 1 on the 360 account.
The lender stated further that such changes in interest rates were unavoidable, but shall continue overlooking at the interest rate environment and improve its offerings should the conditions allow doing so.
Furthermore, United Overseas Bank and DBS Bank came up with interest rate cuts that were effective in the last month too.
United Overseas Bank account holders if they spend at least $500 on eligible cads, would then be entitled to receive 0.5% per annum, from 1.5% initially. Those who have at least three Giro debit transactions and meet the $500 card spend and credit their salary will be eligible to get 1.25% per annum, initially 1.85%.
Asian markets were higher on Monday, with the Hang Seng index surging nearly 4%, after President Donald Trump signaled no changes to the “Phase One” trade deal with China despite escalation of trade tensions over Hong Kong’s status. Furthermore, market sentiment was improved from the expansionary manufacturing activity in China last month.
Coronavirus Update:
Global cases: More than 6.1 million Global deaths: At least 371,995 U.S. cases: More than 1.78 million U.S. deaths: At least 104,381
Market Reaction:
Hang Seng index finished the first day of the week with 3.5% in gains, gaining support from the limited response of the US administration to Beijing’s tightening control over the city of Hong Kong. Investors felt relief from Trump’s decision not to end “Phase one” trade deal with China when he laid out his response to China’s national security law for Hong Kong and Macau on Friday, although he did vow to end Hong Kong’s special status.
Fig.01: Hang Seng index, Daily chart
US futures fell on Monday morning on risk aversion sentiment as riots began last week in more than 30 US cities, in protest to the killing of George Floyd by a police officer. Rioters have since burned down police stations and set fire to police cars, deteriorating the market sentiment. Dow Jones futures fell 0.5%, implying an opening near 25.400 points.
Crude Oil:
WTI and Brent crude oil prices rose 0.5% this morning at $35.50 and $38 per barrel respectively, on hopes that the OPEC+ alliance might extend record production cuts until the end of year.
OPEC members together with Russia and other oil-producing allies will have an earlier virtual-meeting on June 4th, instead of June 9-10, to decide whether to keep the existing 9.7 million bpd agreement beyond July. Production cuts are meant to be eased to 7.7 million bpd on July 1st, based on the initial OPEC+ agreement.
WTI crude contract registered its best month on record after gaining more than 80% in May on improved demand and massive production cuts.
Precious Metals: Gold price climbed near $1.740/oz, supported from safety flows on concerns over US riots, Hong Kong tensions and the US dollar weakness.
Fig.02: Silver price, Daily chart
Silver price gained 2.5% to $18.35/oz this morning, extending its massive recovery rally off the March lows of $12/oz. The white metal, which is also an important industrial metal, has received flows on the improved Chinese manufacturing activity together with the weaker US dollar.
Forex Market:
EUR/USD pair extends its recent rally, breaking above the 1.11 level on Monday morning, driven by optimism generated by the new Eurozone’s pandemic recovery fund of 750 billion-euro announced last week.
Fig.03: EUR/USD pair, 2-hour chart
The DXY-dollar index against major currencies fell near 98 points on de-escalation of trade tensions combined with the US riots in many cities during the weekend.
Economic Calendar for June 01, 2020 (GMT+ 3:00):
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