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 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 - 05/08/2019 - 09/08/2019

Weekly Overview of CFD Movements 07/08/2019

07 August, 2019
Weekly Analysis 07/08/2019 Economic Calendar

The euro strengthened against the dollar last week, exhibiting very high volatility. The Federal Reserve cut interest rates for the first time since 2008 but Fed Chairman Jerome Powell sent a confusing signal to investors, saying that the cut does not represent the start of a lengthy easing cycle but also said the Fed was going to do whatever it takes to sustain expansion.

The British pound fell against the dollar but begun to consolidate at a much lower level. Boris Johnson's deputy said over the weekend that the UK government is now working on the assumption that there won't be an agreement with the EU.

The Japanese yen benefited from increased demand for safe haven currencies. However, Japan’s top official warned investors on Monday that Tokyo was ready to intervene in the currency market if excessive yen gains threatened to hurt the export-reliant economy.

Overall, the U.S. dollar fell last week ending sharply lower as most analysts believe it’s highly likely that the Fed will again cut interest rates next month to prevent any economic slowdown due to trade war.

US stock indexes declined steeply. Presdient Trump announced new tariffs of 10% on China. Beijing then devalued its currency and confirmed it is suspending agricultural product purchases from the US, in response to newly imposed US tariffs to be effective September 1.

Gold prices rose sharply reaching their highest level since May 2013 on trade tensions and the prospect of another interest rate cut next month.

Oil prices fell sharply last week on deteriorating relations between the US and China. On Thursday alone, WTI Crude Oil lost 8%, marking its worst day since February 2015. A poor demand outlook is weighing on oil prices.

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Be aware of the following holiday trading schedule for the 2nd and 3rd of September, Labor Day – USA

Instrument Monday 02.09.2019 Tuesday 03.09.2019
All Forex Regular Regular
Indices
USA 500 Early close 16:59 Regular
USA-TECH 100 Early close 16:59 Regular
USA 30 Early close 16:59 Regular
JAPAN 225 Early close 16:59 Regular
USA 2000 Early close 16:59 Regular
DOLLAR INDEX Early close 16:59 Regular
Energy
Crude oil Early close 16:59 Regular
Brent Oil Early close 16:59 Regular
Natural Gas Early close 16:59 Regular
Heating oil Early close 16:59 Regular
Gasoline Early close 16:59 Regular
Commodities
Corn Closed Regular
Soybeans Closed Regular
Wheat Closed Regular
Sugar Closed Regular
Cotton No.2 Closed Regular
Metals
Gold Early close 16:59 Regular
Silver Early close 16:59 Regular
Copper Early close 16:59 Regular
Palladium Early close 16:59 Regular
Platinum Early close 16:59 Regular
Bonds
Bonds US Early close 16:59 Regular
Equities
Equities US Closed Regular
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  • Please note: In case of low liquidity in a specific instrument, Fortrade may widen the spreads or even close the instrument for trading. Notifications will be issued regarding any such changes to the trading schedule.
  • The above times may be subject to change.
  • 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.