MEX Group:Morning Express-复活节市场交投清淡，市场继续聚焦减产协议。

Focus of foreign exchange market
Trading preference – This week is relatively weak compared to Europe/Beauty（EURUSD）,And believe that the Australia recommended last week/Beauty（AUDUSD）, New/Beauty（NZDUSD）It is close to a high level and can partially realize profits.
欧洲方面，欧盟主要成员国终于就抗击疫情的经济支持方案达成协议，欧元也因此而获得了一定提振。但考虑到疫情影响，欧元区经济前景依然黯淡，因此我们继续维持欧元中期承压。技术上，支撑1.0800Pressure1.1000。
英国方面，因英国首相约翰逊已经出院，市场忧虑情绪有所缓解，也给予了英镑一定支撑。考虑到疫情影响尚未结束，英国仍将面临全球资本流动的影响，我们认为英镑恐将中期承压。技术上，支撑1.2200Pressure1.2600。

商品货币方面，上周因疫情有缓解迹象，叠加全球股市上涨，澳元、纽元领涨，但我们认为短期已经接近高位，可以兑现部分利润。另外，加拿大央行将于周三公布利率决议，市场预计维持利率在0.25%不变的可能性较大。技术上，短期澳/beautiful0.6400, New/beautiful0.6200将面临一定压力，短线恐难冲破。


避险货币方面，因美联储表示将提供多达2.3万亿美元的额外援助，以减轻新冠疫情的影响，且报告显示美国首次申领失业救济人数持续激增，美元也因此而回落。但我们认为短期避险和对现金的急切需求仍然在，维持美元短期为震荡结构。
日本疫情的恶化令日本此前宣布紧急状态，另外，大规模经济刺激，对日元构成了一定压力。我们将原来的观点做了一点修正，美/日短期或将继续保持弱势。


It is worth noting that the money market is2019The year shows a stable and significant weekly momentum reversal effect,MEX動量反轉量化策略因而一再創下新高，投資者在2020You can continue to refer to our weekly suggested combinations for the year.
MEXQuantitative strategy year to date relative benchmarkS&P 500 Total Return IndexAnnualized alpha（ α） by13%. The quantitative model adjusts positions weekly and places orders at the opening on Mondays and closes positions on Fridays. Each currency is paired with a standard hand, and it is recommended to set a stop loss at0.3%. Without considering actual leverage,MEXThe quantitative strategy has significantly outperformed the target since the beginning of the year. For details, please refer to the "Quantitative Topic: Construction Based on Momentum Reversal Strategy"G7Currency Hedge Portfolio. The net value of the portfolio increased last week4.52%，并再创历史新高。本周组合及截至北京时间4month13day07:06The profit and loss are as follows, with a positive spread (storage fee).


commodity market
Trading preference – This week we will maintaingold（XAU）Andcrude oil（WTI）为震荡偏多结构。长期来看，全球低利率为黄金提供了支撑。另外，美元的相对弱势也在一定程度提振了黄金的吸引力。总的来看，我们还是维持黄金为震荡偏强结构。
油价方面，欧佩克+确认自2020year5month1The first round of production reduction will be carried out for two months starting from the date of [insert date], with a reduction amount of [insert amount]97010000 barrels/日。中期来看，这对油价形成一定利多。但需要注意的是，公报并未提及非欧佩克+产油国的减产情况。技术上，支撑位在20附近，压力位在27Near.


stock market indexprospect
股指方面，因复活节，中国香港交易所今日休市一日。

abstract
CFTCThe cash flow data shows that the Australian dollar and New Zealand dollar are at their extreme short positions. Therefore, we believe that in the short term, with the inflow of funds and support for a rebound, but the current price is already high, and a surge can realize some profits. In addition, the long position of the euro is also at its extreme.

Australia/United States, New Zealand/Mei can cash in some profits.
Target price    Europe/beautiful    beautiful/day    Pound/beautiful    beautiful/plus    Australia/beautiful    Newtonian/beautiful
short-term    1.0950    108.00    1.2450    1.3950    0.6350    0.6100
midline    1.0950    108.00    1.2450    1.3950    0.6350    0.6100
Target price    WTI    XAU
short-term    23.00    1,680
midline    24.00    1,680