CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Weekly Analysis

Weekly Overview of CFD Movements - 08/07/2024 - 12/07/2024

Weekly Overview of CFD Movements 17/07/2024

17 July, 2024
Weekly Analysis 17/07/2024 Economic Calendar

The Eurodollar continued to rise after the final round of parliamentary elections in France. The socialist block came first, Macron’s centrist party came second, with the Eurosceptic National Rally coalition coming in third.

The British pound climbed sharply as Sterling appeared to experience a bump from the Labour party’s election victory. The pair traded close to a one-year high after PM Starmer outlined policies that include improved relations with European countries.

The USD/JPY fell sharply after it was reported that the Bank of Japan intervened in the currency markets to support the Yen. The pair has hit several all-time highs so far this year.

Gold prices increased and hit a two-month high. In the US CPI Inflation data came in lower than expected. Markets could expect two rate hikes from the Fed before the end of the year.

The price of the stock indexes climbed last week with the Nasdaq and S&P 500 again hitting record highs. The earnings season kicked off with big banks JP Morgan Citigroup and Wells Fargo posting better than expected results.

Crude oil prices traded slightly lower after "black gold" bounced off a 10-day low earlier in the week, but failed to recover by Friday's close.

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