OPIXTECH Joins FastBull 2024 Trading Influencers Awards Ceremony as Water Sponsor

Summary:

The award ceremony sponsored by OPIXTECH will be held on April 28, 2024, at Grande Centre Point Surawong, Bangkok, Thailand.

OPIXTECH Joins FastBull 2024 Trading Influencers Awards Ceremony as Water Sponsor_1

FastBull welcomes OPIXTECH as the water sponsor of the FastBull 2024 Trading Influencers Awards Ceremony.

The FastBull 2024 Trading Influencers Awards is devoted to discovering trading stars and acknowledging industry pioneers. The award ceremony is a grand event exclusive for financial investors. It focuses on the financial sectors and helps to explore investment opportunities.

The event is unfolded across both online and offline realms. Through online nominations and voting, favorite traders are selected by members of the public.

As part of this event, we have invited all winners to participate in the awarding ceremony, creating an excellent platform for the elites to exchange ideas and promote industry collaboration. Meanwhile, global traders are welcome to celebrate this significant milestone in the financial industry and applaud the outstanding traders who have excelled in their field!

Join OPIXTECH and FastBull on April 28, 2024, at Grande Centre Point Surawong, Bangkok, Thailand to enjoy a night of entertainment and inspiration, and celebrate the brightest stars in the trading world.

About OPIXTECH

OPIX TECHNOLOGY LIMITED (OPIXTECH) is a financial technology firm, established in 2017 in Seychelles, with the aim to develop advanced algorithms for market making and custom execution strategies to financial institutions, including investment banks, brokers, ECNs, and family offices to improve the trading environment. OPIXTECH’s mission is to become the world’s leading financial technology firm focused on developing advanced trading algorithms. OPIXTECH’s vision is to rewire the DNA in the forex market. Recognizing that a vibrant and growing introducer broker (IB) sector is critical to economic growth, job creation and sustained development, OPIXTECH's objective is to enable finance-pro community to gain knowledge and leverage fintech wisely to create wealth and achieve their ideal life.

OPIXTECH stands as a pioneering force in the FinTech arena, spearheading innovation by delivering state-of-the-art algorithmic trading solutions. These solutions serve as a catalyst for financial institutions, streamlining operations, curbing expenses, and elevating the customer journey. Through its latest trading platform, the company endeavors to furnish a seamless, dependable, and feature-rich interface. This empowers traders with the tools to exercise informed judgments, ultimately amplifying their profit-yielding potential.

At the core of OPIXTECH's prowess lies an algorithm fortified with cutting-edge technology. This robust foundation ensures swift and dependable access to extensive data, facilitating seamless order execution, in-depth market analysis, order flow evaluation, and risk management capabilities. The scope of these algorithmic trading solutions extends across an array of financial instruments, encompassing Forex, stocks, commodities, and beyond. This versatility equips institutions with a myriad of trading prospects to explore and capitalize upon.

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Thomas

Economic

Forex

Looking at the currency markets (FOREX), recent movements signal intriguing shifts and potential interventions on the horizon. Japan has caught attention with its subtle yet significant manoeuvres to support the yen, while the RBA and BoC take divergent paths in their rate decisions.

The USD's trajectory has shown a pause in its ascent, marking a notable retreat from recent highs against various currencies. The yen's resurgence, albeit moderate compared to its peers, hints at underlying actions by Japanese policymakers. Similarly, South Korea's won has staged a notable rebound, signalling a broader sentiment shift in the region.

A pivotal moment emerged with a joint statement from the finance ministers of Japan, South Korea, and the US. This declaration underscores a shared concern over currency depreciation, particularly regarding the yen and the won. It tacitly signals a readiness for intervention to stabilize these currencies, if necessary, offering reassurance to jittery markets.

Speculation swirls regarding potential joint interventions, with some even pondering US involvement. However, the likelihood remains low, given the Federal Reserve's steadfast commitment to its monetary policy objectives. The US dollar's strength aligns with the Fed's inflation targets, making significant devaluation improbable in the near term.

Meanwhile, in Australia, the labour market report paints a picture of resilience, defying expectations with a marginal decline in employment. This data suggests a tempered approach by the RBA towards rate cuts, diverging from its G10 counterparts. Anticipation builds for a later initiation of rate cuts, likely in the fourth quarter of the year.

Conversely, Canada's economic landscape sets the stage for swifter action by the BoC. With core inflation slowing to its lowest since July 2021, expectations mount for a rate cut as early as June. The growing policy divergence between the BoC and the Fed propels the USD/CAD pair towards the 1.4000-level, reflecting shifting market dynamics.

USDCAD Daily Chart

USD/CAD Eyeing the 1.40 Level Amid Divergence Between the Fed and BoC!_1

In summary, the forex markets are rife with anticipation and divergence. Japan's potential intervention looms large, while the RBA and BoC chart contrasting courses in response to domestic economic conditions. These developments underscore the intricate dance of global currencies, where policy decisions and economic data intertwine to shape market trajectories.

Source: ACY

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Warren Takunda

Economic

Stocks

Forex

Finance chiefs from economies large and small are scrambling to keep pace with the Federal Reserve's rapid resetting of rate-cut expectations as U.S. inflation data roils markets from London to Brazil.

All insist they are setting policy independently of the Fed and basing it on local conditions. But those conditions are now being buffeted by a sudden likelihood of U.S. interest rates staying higher for longer than had been expected as the year began after a run of hotter-than-expected inflation data.

It's an unexpected turn that has supercharged the U.S. dollar, stressing other currencies in return and raising the prospect of currency intervention in Asia. It has also forced Latin American central bankers to tailor their rate-cut plans, and even left officials in developed countries wondering whether new constraints on their own easing plans may emerge.

"When the March (U.S. inflation data) scare came, there was a drastic reversal of expectations, and this changed the mood significantly regarding how economic variables will behave worldwide," Brazil's Finance Minister Fernando Haddad said in a press conference in Washington on Thursday on the sidelines of the International Monetary Fund and World Bank spring meetings.

"Everything else depends somewhat on this."

The dollar's 4.75% appreciation against a basket of currencies this year is creating headaches in many quarters of the globe, but its gains of 9.6% against Japan's yen and 6.5% versus South Korea's won have been especially troublesome for two key U.S. trading partners. Those moves led officials from Japan and South Korea this week to huddle urgently with U.S. Treasury Secretary Janet Yellen in hopes of stemming the slides, holding out the possibility of intervention if needed.

Bank of Japan Governor Kazuo Ueda said the Japanese central bank may raise interest rates again if the yen's declines significantly push up inflation, highlighting the impact currency moves may have on the timing of the next policy shift.

"Policymakers outside the U.S. are trying to address the recent weakness in (developed and emerging market) currencies in one of two ways - by suggesting possible FX intervention, and by tilting central bank rhetoric in a more 'hawkish' direction," Thierry Wizman, global FX and rates strategist at Macquarie, wrote in a note. "Japan is trying both." Fed's Rate-Cut Foot-Dragging Grates on Global Peers at IMF Meetings_1

Fed's Rate-Cut Foot-Dragging Grates on Global Peers at IMF Meetings_1

'NO URGENCY'

Roughly two weeks ago, global central bankers, finance ministers and capital markets had been in broad agreement that the world's most important policy-setting central bank would shepherd them all down a path of looser credit starting in June.

It was a pivot by the Fed eagerly anticipated around the world, especially among smaller, debt-laden economies with limited ability to control their own borrowing costs or contain disruptive swings in their currencies.

A raft of U.S. economic data unfriendly to that aspiration has since intruded on that consensus, and Fed officials who four weeks ago had conditioned the world to expect a string of three, quarter-percentage-point rate cuts this year have changed their tune.

"I definitely don't feel urgency to cut interest rates" given the strength of the economy, New York Fed President John Williams said at an event on the sidelines of the IMF and World Bank meetings. "I think eventually ... interest rates will need to be lower at some point, but the timing of that is driven by the economy."

Williams, the influential vice chair of the U.S. central bank's rate-setting Federal Open Market Committee, was only the latest official to have suddenly turned squeamish about a turn to rate cuts after data showed the U.S. economy motoring at an unexpectedly brisk pace through the first quarter and inflation in particular proving to be unhelpfully sticky. Fed's Rate-Cut Foot-Dragging Grates on Global Peers at IMF Meetings_2

Fed's Rate-Cut Foot-Dragging Grates on Global Peers at IMF Meetings_2

IMF officials urged Asian central banks to stick to their own knitting and avoid the temptation to lash their policy decisions too closely to anticipated moves by the Fed.

"If central banks follow the Fed too closely, they could undermine price stability in their own countries," Krishna Srinivasan, the director of the IMF's Asia and Pacific Department, said during a briefing on the region's outlook.

The European Central Bank for one seems determined to heed that advice and press ahead with its own plans for a first rate cut in June regardless of the Fed's reluctance.

"We need to recognize that and conduct monetary policy according to euro zone data," Bank of Portugal Governor Mario Centeno told Reuters. "If that means we need to cut interest rates before the United States, so be it."

Meanwhile, Pakistan Finance Minister Muhammad Aurangzeb, struck a sanguine tone even as he pursued talks with the IMF over a new loan program expected to be at least $6 billion.

"The Fed needs to make the decision based on what they see in their inflation trajectory here (in the U.S.) - but overall around the world, most of the central banks are looking to start cutting rates," he told Reuters in an interview. "Maybe some short-term pressure - but do I see it as a big concern in the medium term? No."

Source: Reuters

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Ukadike Micheal

Economic

Commodity

As Iranian media played down the impact of Israeli strikes following the unprecedented bombardment last weekend, oil markets experienced a rollercoaster ride. Initially, Brent crude surged by more than 1%, briefly breaching the $90 per barrel mark on fears of a broader conflict that could jeopardize crude supplies. However, the rally was short-lived as traders digested conflicting reports regarding the extent of the strikes and their potential implications for regional stability.

The reported Israeli strike on Iran, although denied by Iran's semi-official Tasnim news agency, triggered concerns about the safety of critical infrastructure such as the Isfahan nuclear facility. The International Atomic Energy Agency's confirmation of no damage at nuclear sites provided some relief to the market but failed to fully alleviate fears of escalating tensions in the region. With the Middle East accounting for a significant portion of global crude supply, any disruption in oil production or transportation infrastructure could have far-reaching consequences for energy markets worldwide.

Traders had been closely monitoring the situation, anticipating a potential retaliation from Israel following last weekend's missile and drone attack. The escalation in rhetoric between Israel and Iran added to market jitters, with investors bracing for the possibility of further military confrontations. As geopolitical tensions simmered, analysts warned of the increasing likelihood of the market factoring in a higher risk premium to account for the heightened uncertainty surrounding crude oil supplies from the region.

The rally in crude prices this year has been driven by a combination of factors, including escalating hostilities in the Middle East and coordinated supply cuts by OPEC+ members. These supply curbs, spearheaded by major oil producers such as Saudi Arabia and Russia, have effectively tightened the global oil market, leading to a gradual drawdown in inventories. However, sustained higher energy prices raise concerns about their potential impact on the global economy and inflationary pressures, posing a dilemma for central bankers grappling with monetary policy decisions.

Against this backdrop, OPEC+ faces the delicate task of balancing market stability with the economic recovery from the COVID-19 pandemic. The group's decision to maintain output restrictions through the first half of the year reflects its cautious approach to managing oil market dynamics amidst evolving geopolitical risks. However, the unused production capacity held by OPEC+ members provides a buffer against potential supply disruptions, offering some reassurance to market participants concerned about the resilience of global oil supplies.

In response to heightened uncertainty, trading volumes surged, with increased activity observed in both Brent and West Texas Intermediate contracts. The surge in options trading, particularly for Brent June and July contracts, underscores traders' efforts to hedge against potential price spikes and volatility in the oil market. The widening premium of call options over put options reflects market participants' growing concerns about the downside risks associated with geopolitical tensions and their implications for oil prices.

Looking ahead, analysts continue to closely monitor geopolitical developments in the Middle East, recognizing the potential for further escalation and its impact on oil markets. The heightened risk environment underscores the importance of risk management and contingency planning for market participants operating in the oil and energy sectors. As tensions persist, maintaining a balanced and diversified portfolio remains crucial to navigating the uncertainties of the global oil market landscape.

The recent flare-up in tensions in the Middle East has once again highlighted the interconnectedness of geopolitics and energy markets. The conflicting reports surrounding Israeli strikes on Iran have injected volatility into oil markets, underscoring the need for caution and vigilance among market participants. As geopolitical risks evolve, adaptability and resilience will be key to navigating the complex and dynamic landscape of global energy markets.

Source: Bloomberg

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Devin

Economic

Britain's national election, expected later this year, will take place against a backdrop of persistently slow economic growth, high public debt and little room to increase spending for whoever wins power unless they raise taxes.

Prime Minister Rishi Sunak promises voters that a recovery from a cost-of-living crisis is underway while the opposition Labour Party, which is far ahead in opinion polls, accuses his ruling Conservatives of overseeing 14 years of economic failure.

Below is a summary of some of the challenges facing the world's sixth-biggest economy which appears to be emerging from a shallow recession but is still feeling the aftershocks of Brexit, the COVID pandemic and the energy price surge of 2022.

Slow Growth

Britain's economy has been sluggish since 2010, when the Conservatives entered government under former leader David Cameron, shortly after the 2007-09 global financial crisis.

What growth there has been recently has been helped by the impact of high flows of migration. Gross domestic product per person has not increased since early 2022.

Finance minister Jeremy Hunt points to data that shows Britain's economy as a whole grew faster than Germany, France and Italy since 2010, albeit marginally.

But since the start of the coronavirus pandemic in early 2020, Britain's economic performance has been the weakest among the Group of Seven (G7) economies with the exception of Germany.

Weak Productivity

A big brake on the economy over the past 14 years has been Britain's weak productivity growth.

Output per hour worked in similar countries has also increased only slowly since the global financial crisis. But low levels of business investment, Brexit barriers to trade, low public investment and problems with skills training have been cited as factors that have left Britain lagging its peers.

In 2022, British business investment was slightly lower than its level in 2016, a contrast with other G7 economies that experienced a 14% average increase during the period.

Both the main political parties are promising to improve productivity, with the Conservatives focusing on tax incentives for business investment announced by the government last year and Labour by promising to invest more in green technology.

Hit To Incomes

The poor productivity performance has contributed to British wages virtually flat-lining since the 2007-09 financial crisis when adjusted for inflation. Real household disposable income is on course to fall between one British national election and the next for the first time since at least the 1950s.

Over the past 20 years, inflation-adjusted wage growth for British workers has lagged behind that of most other G7 nations.

Middle-income people in Britain are 20% poorer than their peers in Germany and 9% poorer than those in France, according to a report published in December by the Resolution Foundation, the Centre for Economic Performance and the Nuffield Foundation.

Public Spending Squeeze Ahead

Public spending surged in 2020 as the government responded to the COVID pandemic. It was also pushed up by subsidies to protect the economy from the surge in energy prices triggered by Russia's invasion of Ukraine in 2022.

While higher as a share of economic output than in the United States, public spending in Britain is lower than in Germany and France, contributing to the strain on services such as health and education.

The current government's fiscal plans rely on further cuts for many public services in the years ahead in order to make its recent tax cuts fit within its debt promises. Many budget experts say those spending cuts look unrealistic, given the strains already on public services.

Focus On Tax Take

Britain's tax burden has risen to its highest since World War Two but it remains lower than in other big European nations.

Sunak, under fire from within his Conservative Party over the size of the tax burden, has said he wants to build on recent cuts to national insurance rates while Labour says it will not raise the main rates of taxation. Those positions raise questions about how the next government can meet the challenges of improving public services and stabilising public finances.

High Debt Levels

Britain's public debt levels, like those of many other countries, rocketed due to the massive costs of the COVID pandemic and the energy price surge. Projections from the International Monetary Fund show it will keep on rising as a share of GDP.

The IMF said this week that Britain, the United States, Italy and China "critically need to take policy action to address fundamental imbalances between spending and revenues".

The Conservatives and Labour both promise to ensure that official forecasts show the debt burden falling at the end of a rolling five-year period - albeit using a slightly different measure to the IMF. Achieving lower debt levels looks tough given demands for more spending and the parties' tax promises.

Inactivity Problem

One way of giving the economy a growth boost, and getting more money flowing into the government's coffers, would be to tackle the high number of people who are not working or looking for work in Britain. The country is the only one in the G7 where the share of working-age people outside the workforce remains higher than before the pandemic, slowing economic growth and boosting inflation.

Source: Yahoo

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Ukadike Micheal

Forex

Economic

Amid escalating fears of a widening conflict in the Middle East, currency markets have shifted into full risk-off mode. Traders are flocking to safe havens, both in spot and options markets. The dollar saw gains against most Group-of-10 currencies, except for the Swiss franc and the Japanese yen, following reports of Israel's retaliatory strike on Iran. The Bloomberg Dollar Spot Index extended its rise for a seventh day in eight, reflecting the heightened risk aversion among investors.

Options activity further highlights the rush for safe havens. Risk reversals indicate increased bullishness on the Swiss franc versus the euro, reaching levels not seen since late 2022. Meanwhile, demand for options betting on yen strength against the dollar surged to its highest level since July. Israel's retaliatory action, reportedly occurring shortly after Tehran's recent rocket and drone attacks, has added to geopolitical tensions in the region. Despite initial efforts to downplay the incident by Iranian media, the situation has fueled market volatility, particularly impacting oil-linked currencies as crude prices briefly surged above $90 a barrel.

The spike in oil prices has led to increased volatility in currencies tied to oil-producing countries. The cost of hedging one-week moves on the Canadian dollar experienced its sharpest increase in 15 months, while Norwegian krone volatility is on track for its second-largest gain this year. Additionally, the greenback remains in demand, with one-month risk reversals for the Bloomberg Dollar Spot Index trading close to a one-year high.

These developments underscore the intricate relationship between geopolitical events and currency market dynamics. As tensions in the Middle East escalate, investors are turning to traditional safe-haven currencies such as the Swiss franc and the Japanese yen to protect against potential market disruptions. Moreover, the surge in oil prices has implications for oil-exporting countries' currencies, with increased volatility reflecting uncertainty surrounding global energy markets.

From a technical standpoint, heightened geopolitical tensions can lead to increased market volatility and fluctuations in currency exchange rates. Traders may adjust their positions in response to changing risk perceptions, leading to abrupt movements in currency pairs. Additionally, geopolitical risks can impact investor sentiment, influencing capital flows and investment decisions in currency markets.

Looking ahead, market participants will closely monitor developments in the Middle East for potential further escalation or de-escalation of tensions. Any significant developments could have profound implications for currency markets, potentially leading to prolonged periods of volatility and shifts in market sentiment. As always, investors should remain vigilant and adaptable to navigate the ever-changing landscape of global geopolitical events and their impact on financial markets.

The recent escalation of tensions in the Middle East has prompted a flight to safety in currency markets, with traders seeking refuge in traditional safe-haven currencies and options markets. The surge in oil prices has added to market uncertainty, particularly impacting currencies tied to oil-producing countries. As geopolitical risks persist, market participants must remain vigilant and responsive to evolving developments to navigate the dynamic landscape of currency trading effectively.

Source: Bloomberg

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Kevin Du

Economic

Energy

Power generated by solar panels is the cheapest source of electricity in several regions, and tends to drive down the price of wholesale power during peak solar output periods, eroding margins for power producers.

The phenomenon, known as the renewables cannibalization effect, is particularly acute in Europe's electricity system which prioritizes clean electricity supplies and where politicians have set ambitious decarbonization goals designed to reduce reliance on imported fossil fuels.

Renewables-driven price disruptions have gained widespread attention in the United States due to the creation of a so-called 'Duck Curve' in Californian power prices, where massive volumes of solar output during the middle of the day flood the market just as overall power demand is at a lull.

To accommodate that surplus power load, power prices tend to plunge in a way that is similar to the shape of a duck's belly, before rising again later as solar output declines.

Europe's integrated power markets must brace for similar periods of price disruption, following rapid expansions in solar capacity across the continent.

These disruptions have the potential to temporarily undermine the economics of power production from all sources, and may therefore deter investments in further regional generation capacity at a critical time.

For policymakers who support a rapid transition of energy systems away from fossil fuels while ensuring continued power sector stability, bouts of potentially loss-making power prices due to surplus solar output may be unnerving.

But authorities can take heart from the fact that energy consumers are already seeing the benefits of greater renewables output in the form of lower prices.

And in the longer term, consumers will also be better protected from future fuel price shocks once the build out of home-grown renewable power capacity is complete.

But over the nearer term, policymakers, energy consumers and power producers alike must prepare for further swings in power costs as the generation mix in Europe continues to evolve from primarily fossil fuel-based to being overwhelmingly run on clean fuels.

FAST TRACK

After Asia, Europe has been the fastest growing market for new solar capacity for the past decade, adding 172 gigawatts (GW) of capacity between 2012 and 2022, according to energy think tank Ember.

That compares to nearly 600 GW of capacity additions across Asia, and around 110 GW of capacity growth in North America over the same period.

Capacity data for 2023 has yet to be confirmed, but renewable industry analysts and consultants estimate that Europe will have set a new installation record again last year.

That rapid growth pace has allowed for solar power to grab a growing share of Europe's total electricity generation mix, which has doubled from around 5% during the summer of 2019 to just under 11% last summer, and the highest of all regions.

In contrast, solar's share of electricity generation in Asia topped out below 7% last summer, while in North America peaked at around 6.37%, Ember data shows.

CAPTURING THE PRICING IMPACT

The impact of such a rapid climb in solar output has already distorted Europe's power markets, and has resulted in utilities earning shrinking revenues from renewables.

As additional solar capacity has been brought online in several countries, regional power prices responded by trending broadly lower, especially during high solar output periods.

Price forecasting models have also had to be updated to account for the growing share of renewable power in generation systems, with so-called capture prices and capture rates being used to measure the impact of renewable cannibalization.

The capture price is a weighted average price during which the power generation asset produces electricity, and is expressed relative to the baseload contract price paid to fossil fuel-based power producers.

The capture rate is a measure of the capture price divided by market price available for the power produced, expressed as a percentage.

In the case of a natural gas plant that only produces power during peak demand periods, the typical capture rate can be 100%, as the plant can despatch maximum volumes to fulfil demand needs at peak prices, and then reduce or stop output when demand and prices decline.

For renewables assets, the capture rate is typically less than 100%, and can be far lower for solar assets that only produce electricity when the sun shines and often hit peak output just when demand and prices may be near their lowest during a typical day.

GERMANY AND SPAIN FEEL THE PAIN

Power price models in Germany and Spain clearly show the impact of declining capture prices and rates due to expanding solar output.

Due in part to rapidly rising electricity from solar farms, the wholesale power price from solar assets in Germany declined to the lowest in nearly four years this month, according to pricing models compiled by LSEG.

In turn, the lower solar-driven prices have dragged the overall German wholesale price lower.

The capture rate for German solar assets has also declined this month, plunging to as low as 50% of the baseload power contracts, LSEG data shows.

The capture rate is even lower in Spain, where abundant sunshine results in a surge in solar output that can often far exceed system demand needs during the day.

Spain's solar capture rates are expected to average around 85% for the rest of 2024, but decline steadily over the coming years to around 60% by 2030 and 45% by 2035.

Power developers concerned about the profit impact of such capture rate erosion could slow their development pace, and thereby potentially threaten national or regional energy transition momentum.

But if policymakers keep a long-term view in mind of the benefits from a fully developed renewable energy system, appropriate incentives for power developers could be created to ensure the pace of the region's energy transition is maintained.