CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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.

Weekly Analysis

Weekly Overview of CFD Movements - 10/05/2021 - 14/05/2021

Weekly Overview of CFD Movements 12/05/2021

12 May, 2021
Weekly Analysis 12/05/2021 Economic Calendar

The euro strengthened against the dollar. Very disappointing NFP figures released on Friday showed that the recovery of the US labor market and the overall economy may be slower than anticipated. Benefiting from upside momentum, the euro remained highly elevated on Tuesday.

The British pound was cheered by the outcome of the elections for the Scottish Parliament. The Scottish National Party fell one place short in Parliament to gain a majority. The election results significantly lowered the odds for a second referendum on Scotland’s exit from Britain. Britain marked zero new coronavirus deaths for the first time in more than a year and UK PM Johnson’s announced tempered lockdown measures on Monday.

The Japanese yen strengthened last week. Rising number of Covid-19 cases in Japan ahead of the Olympics is a matter of concern for the yen. On the other hand, the weakening dollar across the board supported the downward trajectory of the yen.

Gold prices rose strongly surpassing the $1,800 level. After the release of seemingly bad NFP data on Friday, it became clear that inflation and the increase of Federal funds rate is not on the agenda. The opportunity cost of keeping the yellow metal dropped, pushing the gold price half-way between the 1,800 – 1,900 range.

The Dow Jones and S&P500 retreated after they hit new all-time highs on Monday. The earnings season has shown excellent results but the vertigo of high altitude exerted irresistible pressure on stock prices the same day. This week, Walt Disney and Coinbase are scheduled to release their financial reports.

Oil prices traded sideways in the 63-66 channel. Crude oil has surged on expectations the Covid-19 vaccination will allow lockdowns and curbs to be lifted with a promising summer driving season. However, it dropped on Monday after Colonial Pipeline Co., a key supplier of fuels to the eastern U.S., reported that a destructive cyberattack halted distribution. It also stated services will be mostly restored by the end of this week.

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Be aware of the holiday trading hours for:

  • Early May Bank Holiday: United Kingdom, Monday 03 May 2021.
Instrument 03.05.2021 04.05.201
ALL FOREX Regular Regular
Indices
UK 100 Closed Regular
Equities
Equities UK Closed Regular
  • Ascension Day: Sweden, Norway, and Finland, Thursday 13 May 2021.
Instrument 12.05.2021 13.05.2021 14.05.2021 17.05.2021
ALL FOREX Regular Regular Regular Regular
Equities
Equities Stockholm Closed Closed Closed Closed
Equities Helsinki Closed Closed Closed Closed
Equities Oslo Closed Closed Closed Closed
  • Hari Raya Puasa, Thursday, 13 May 2021 in Singapore.
  • Buddha’s Birthday, Thursday 19 in Hong Kong.
Instrument 13.05.2021 14.05.2021 19.05.2021 20.05.2021
ALL FOREX Regular Regular Regular Regular
Indices
Hong Kong 50 Regular Regular closed Regular
CHINA 50 closed Regular Regular Regular
  • Please note all times indicated are GMT
  • The above times may be subject to change
  • Please note that in case of low liquidity in a specific FX or metals instrument, the DR may widen the spreads and even close the instrument for trading – every change of that character will be notified ahead by the DR.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you understand how leveraged contracts work and whether you can afford to take the high risk of losing your money.