Weekly Updates 15/1/24 –19/1/24 January 15, 2024

Weekly Updates 15/1/24 –19/1/24

Weekly Updates 15/1/24 –19/1/24

This weekly update is designed to help you stay informed and relate economic and company earnings to potentially value-add your CFD (Contract For Difference) trading via hedging (risk reducing). This article should be used for educational purposes only and not as financial advice. We urge all traders to carry out your own due diligence before submitting trades.

Recap for last week (08 Jan 2024 – 12 Jan 2024)

Weekly Updates 15/1/24 –19/1/24*These prices are taken based on the previous Monday’s opening price and the preceding Friday’s closing price.

Last week, US’s hotter-than-expected inflation was unwelcome news for investors, deflating their hopes that the central bank might begin to cut interest rates. As per CME Fed watch tool, the futures market has priced in a 95% chance that the FOMC will not change rates at the next meeting. Spot bitcoin ETFs began trading a day after getting the go-ahead from US regulators. The new funds debuted last Thursday, with $4.6 billion of the new ETFs changing hands on day one. Japan 225 Index hit a new 34-year high with 6.13% rise last week. This is driven by solid company earnings and the extended weakness of yen which boosted Japan’s exporters’ earnings.

Updates for the week (15 Jan 2024 – 19 Jan 2024)

The data below showing the economic releases read as “Analyst’s estimate/ Consensus | Previous data”.

Weekly Updates 15/1/24 –19/1/24

This week’s macro news mainly focuses on US and China economic releases. US retail sales are expected to tick higher at 0.4% due to the strong unit auto sales and higher gasoline prices; US industrial production most likely to fall by 0.1% in Dec 2023 as manufacturing hours worked slid lower where utilities output was 1.4% lower on warmer-than-usual winter weather thus lowering heat demand and driving energy consumption down slightly. On the other hand, despite increased liquidity injections from People Bank of China (PBoC) where M2 YoY is expected to rise, many market participants are expecting Retail sales growth to slow to 8% YoY while the industrial productions are expected to remain the same at 6.6%. Any downside surprises in the data may reinforce the trend of weaker economic conditions.

Traders should position their portfolio before the macro news release to not be negatively affected and have good risk management.

Weekly Updates 15/1/24 –19/1/24

This week’s corporate earnings release focuses on the US companies that are in the financial and the oil & gas industry. With the rising oil stock pile in the US crude inventories, many investors are laying their eyes on reports from US Bancorp and Kinder Morgan to use it as a forward guidance on how the oil & gas industry performs with concerns of slowing demand growth and weaker economic outlook in the Eurozone. Investors remain worried about potential oil supply disruptions in the Middle East due to the Israel-Hamas war. Besides, earning seasons started last Friday where all the major banks released their earnings. Bank of America fell short of expectations, while Citigroup rounded off its worst quarter in 15 years with expansive job cuts unlike JP Morgan where it made almost a third more profit than the year before, banking a record high just shy of $50 billion. Following this week will be Morgan Stanley (MS) and Goldman Sachs where a large portion of the debt is expected from these large US banks as they look to get ahead of the regulatory requirements for more capital reserves and survive stress tests. Investors will lay eyes on these reports to see how much more bonds the banks are planning to sell off as MS already sold off around $6 billion in bonds.

If you hold equity positions in these stocks, you can hedge your positions using CFDs to mitigate the risk of disappointing earnings releases.

For those looking to speculate or capitalize on the increased volatility, CFDs provide leverage and ease of going long and short across a broad range of products available.

Weekly Updates 15/1/24 –19/1/24

Alibaba (9988.HK): Potential Bearish Trading Opportunity – by Donny

Weekly Updates 15/1/24 –19/1/24

Key Entry Price Pivot(s)

  • HK$76

Recommended Trade

  • Short at HK$76
  • Stop Loss at HK$70
  • Take Profit at HK$78

Alternative Case

  • Long at HK$80
  • Stop Loss at HK$88
  • Take Profit at HK$75


  • Looking at the daily chart of Alibaba, we can see that the price has been in a downward trend channel.
  • Currently, the price is moving toward the resistance at HK$76. We can potentially look for a short trade at the resistance level in a lower time frame with confluence, such as a bearish bar with significant volume at the resistance level.

If you have any feedback or questions, feel free to email us at samht@phillip.com.sg or onishathyeyn@phillip.com.sg or cfd@phillip.com.sg.


This material is provided to you for general information only and does not constitute a recommendation, an offer or solicitation to buy or sell the investment product mentioned. It does not have any regard to your specific investment objectives, financial situation or any of your particular needs.

Accordingly, no warranty whatsoever is given and not liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of your acting based on this information. Investments are subject to investment risks.

The risk of loss in leveraged trading can be substantial. You may sustain losses in excess of your initial funds and may be called upon to deposit additional margin funds at short notice. If the required funds are not provided within the prescribed time, your positions may be liquidated.

The resulting deficits in your account are subject to penalty charges. The value of investments denominated in foreign currencies may diminish or increase due to changes in the rates of exchange.

You should also be aware of the commissions and finance costs involved in trading leveraged products. This product may not be suitable for clients whose investment objective is preservation of capital and/or whose risk tolerance is low.

Clients are advised to understand the nature and risks involved in margin trading. You may wish to obtain advice from a qualified financial adviser, pursuant to a separate engagement, before making a commitment to purchase any of the investment products mentioned herein. In the event that you choose not to obtain advice from a qualifies financial adviser, you should assess and consider whether the investment product is suitable for you before proceeding to invest and we do not offer any advice in this regard unless mandated to do so by way of a separate engagement.

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About the author

Sam Hei Tung (Dealing) and Onisha Thye (Dealing)

Sam graduated from National University of Singapore with a Master of Science in Finance. He personally manages his own investment portfolio and does equity and economic research in his free time. Sam believes that education and information is essential to making good financial decisions.

Onisha is a dealer at the CFD Dealing Desk. She graduated from Monash University with a double major in finance and econometrics. Her natural curiosity for finance is what drove her to be in this field as she is fascinated by all the possibilities and opportunities that are available to grow one’s wealth, either through trading or investment.

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