CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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 - 13/09/2021 - 17/09/2021

Weekly Overview of CFD Movements 15/09/2021

15 September, 2021
Weekly Analysis 15/09/2021 Economic Calendar

The euro weakened against the dollar. The European Central Bank seemed unmoved last week by higher inflation in the euro zone. In addition the center-left party (SDP) solidified its position in Germany. Their leader Olaf Schulz did not rule out a coalition with the radical left, which marginally weighed on the shared currency.

The British pound slightly rose despite ongoing EU-UK post-Brexit tension. The British side insists it could continue violating the Northern Irish protocol. However, excellent UK job figures showed another fall in the unemployment rate from 4.7% to 4.6% on Tuesday underpinning the pound.

The Japanese yen was little changed against the dollar. Overall, the dollar index was little changed with decent volatility.

Gold prices were subdued last week sliding a little below the 1,800 level ahead of US CPI data (to be) released on Tuesday.

US indexes closed last week lower. Investors now expect a substantial correction in stock markets by the end of the year, with some turning bearish on a global economic recovery. The possible passage of U.S. President Joe Biden's $3.5 trillion budget package is supportive for the stock market.

Oil prices rose last week hitting a six-week high on Tuesday. Fears that newly-formed hurricane Nicholas could (again) create havoc on the Southern shores of the US and bring the threat of widespread floods and power outages to Texas and Louisiana. The news pushed oil prices higher above the 70 level. In addition, the International Energy Agency forecast a demand rebound for the rest of the year.

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Be aware of the holiday trading hours for:

  • Monday, 11 October 2021 for the Thanksgiving Holiday in Canada.
  • Thursday, 14 October 2021 for the Chung Yeung Day holiday in Hong Kong.
Instrument 11.10.2021 14.10.2021 15.10.2021
ALL FOREX Regular Regular Regular
Indices
Hong Kong 50 Regular Closed Regular
CAD 60 Closed Regular Regular
Equities
Canadian stock Closed Regular Regular
  • The above times may be subject to change.
  • 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 dates preceding and following this holiday have the regular trading schedule.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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. 80% 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.