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.
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.
The mortgage applications in the US for the week ending May 22, 2020, appreciated 2.7% compared to the previous week, the Mortgage Bankers Association stated in their Weekly Mortgage Applications Survey.
The Market Composite Index rose 2.7% on a seasonal basis and 3% on an unadjusted level.
The Refinance Index, compared to last week, decreased by 0.2% and was 176% upper completed to the same week but one year ago.
The seasonally adjusted Purchase Index rose 9% compared to the week earlier, and the unadjusted one appreciated 7% compared to the prior week and 9% higher than the same week a year ago.
Following the reopening of various states in the US, the housing market resumes its recovery path, as more buyers continue searching for a home.
Last week, the purchase applications climbed 9%, recording a sixth consecutive weekly appreciation and a rise of 54% since the beginning of April.
According to the MBA’s Associate Vice President of Economic and Industry Forecasting, Joel Kan, the purchase loan amount reached its highest zone since the middle of March.
The refinance activity resumes flat, but 176% higher compared to last year’s rate. Conventional refinance applications rose 2% while government refinancing dropped by almost 7%.
The refinance share of mortgage activity declined from 64.3% to 62.6%, and the adjustable-rate mortgage share of activity climbed to 3.4%.
The FHA share of total applications declined from 11.5%, the prior week, to 11.2%. The USDA share of total applications dropped from 0.7% to 0.6%, and the VA share fell from 11.5% to 11.2%.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $510,400 or less climbed from 3.41% to 3.42%, and for $510,400 or more from 3.66% to 3.71%, whereas the mortgages backed by the FHA declined from 3.46% to 3.41%.
The average contract interest rate for 15-year fixed-rate mortgages dropped from 2.88% to 2.87%, and the average contract interest rate for 5/1 ARMs declined from 3.19% to 3.08%.
Global financial markets continued their uptrend momentum by adding gains on hopes for global economic recovery as more countries reopen their social and economic activities. The US stock indices hit fresh monthly highs, erasing almost all the pandemic-related losses, despite the escalation in US-China tensions over Hong Kong’s status.
Coronavirus Update:
Global cases: More than 5.62 million Global deaths: At least 353,000 U.S. cases: More than 1.68 million U.S. deaths: More than 100,000
Market Reaction:
US markets rose by 2% on Wednesday on optimism about the reopening of the US economy, overshadowing concerns over U.S.-China tensions. The Dow Jones index settled at 25.548, up 2.2%, its highest level since March, while S&P 500 and Nasdaq indices closed higher by 1.5% and 0.8% respectively.
Fig.01: Dow Jones index, Daily chart
The banking, retail and airline sectors which will benefit the most under market reopening, led the gains yesterday. However, stocks that outperformed as stay-at-home orders went into effect in March have lagged in recent sessions, such as Zoom, Amazon and Netflix.
Asian markets were higher this morning, following the overnight gains on Wall Street. Nikkei and Kospi indices led the gains with 2%, while Hang Seng fell 1% on rising tensions. The U.S. has declared that Hong Kong is no longer autonomous following China’s move to impose a national security law in the city, raising fears that U.S. sanctions on Beijing may soon follow.
Crude oil:
Crude oil prices fell 4% on Wednesday, for a second consecutive session, as growing tensions in Hong Kong raised concerns over energy demand. In addition, oil prices extended overnight losses after a report from API showed a surprised build-up in crude stockpiles by 8.7 million barrels in the week to May 22, compared with analysts’ expectations for a draw of 1.9 million barrels. The oil traders will be looking to see if data from the U.S. Energy Information Administration later on Thursday matches API.
Fig.02: WTI crude oil, 2-hour chart
WTI crude price settled at $31.37, down by 4.4%, while Brent crude finished the day at $33.64, or down 3.2%. Both contracts have lost almost 10% since hitting their 2-month highs on Tuesday.
Precious Metals:
Gold prices rose 0.5% at $1.720/oz on Thursday, gaining support from the weaker US dollar, EU stimulus plan and the rising tensions between the US and China over a Hong Kong security law. Silver price trades near $17.30/oz while Palladium broke below the key support level of $2.000/oz.
Forex Market:
Euro currency broke above the 1.10 level against the US dollar, ahead of the European Union (EU) Summit aimed to unveil a post-COVID-19 recovery plan of 750 billion euro, to help the Eurozone region recover from the pandemic. EUR/USD pair hits 2-months high at 1.102 supported also from the weaker US dollar amid trade tensions.
Fig.03: EUR/USD pair, 4-hour chart
The DXY-dollar index extended its down trend momentum, breaking below the 99 level amid the Sino-American tensions around Hong Kong status.
Global financial markets moved higher on Tuesday, extending their recent strong gains, supported from the optimism about the reopening of the global economy and a potential coronavirus vaccine. However, the market rally was capped after reports circulated that the US government is weighing sanctions on Chinese firms and officials over the situation in Hong Kong.
Coronavirus Update:
Global cases: More than 5.58 million Global deaths: At least 350,423 U.S. cases: More than 1.68 million U.S. deaths: At least 98,902
Market Reaction:
US markets continued their uptrend momentum by hitting fresh 2-months highs on Tuesday’s trading session driven by risk appetite. Dow Jones index surged 2.2% to close at the 25.000 level for the first time since early March, while the S&P 500 and Nasdaq followed with 1.2% and 0.2% in gains, respectively.
Fig.01: Dow Jones index, 2-hour chart
Asian markets traded mixed on Wednesday morning on fears for US sanctions on China and the re-opening optimism. Nikkei and Kospi indices led the gains with 0.5% while Hang Seng and CSI300 indices fell 0.5% on US-China tensions.
Crude oil:
Crude oil prices rose 2% on Tuesday, supported by growing confidence that OPEC members and allies are following through on commitments to cut supplies. Russian oil production volumes were near the country’s quota of 8.5 million bpd for May and June.
Fig.02: WTI crude oil price, 2-hour chart
WTI crude price rose near $35 per barrel, the highest since March, while Brent crude broke above the $36 level. The fuel demand is recovering faster than expected as more countries re-open their economies and as more people start using their cars.
Oil prices received support yesterday after Russia’s Energy Ministry Alexander Novak said a rise in fuel demand should help to cut a global surplus of about 7 million to 12 million bpd by June or July.
Precious Metals:
Gold price fell 1% yesterday as investors moved away from safe-haven assets into growth instruments such as equities on improved risk sentiment. The price of the yellow metal hit weekly lows of $1.705/oz, followed by 1% losses in Silver and Palladium.
Forex Market:
The DXY- US dollar’s index, which measures the greenback’s strength against six other major currencies, fell 0.8% yesterday, breaking below the 99 level, its weakest since May 1st. However, the index rose to 99.20 this morning receiving some support from the escalation of trade tensions over Hong Kong’s status.
Fig.03: AUD/USD pair, 2-hour chart
Australian and New Zealand dollars extended their recent gains against the US dollar, by hitting fresh highs of $0.667 and $0.623, respectively. EUR/USD pair rose near the 1.10 key resistance level while GBP/USD also climbed above 1.23.
Economic Calendar for May 27, 2020 (GMT+ 3:00):
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