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 - 11/10/2021 - 15/10/2021

Weekly Overview of CFD Movements 13/10/2021

13 October, 2021
Weekly Analysis 13/10/2021 Economic Calendar

The euro consolidated (further) losses against the dollar. The European Central Bank said that "the medium-term inflation dynamic is too slow, not too fast" and that the trigger for monetary policy action is not there. High energy costs in Europe continued to pull down the shared European currency.

The pound recovered as BoE’s Michael Saunders said during the weekend that households should get ready for “significantly earlier” interest rate hikes as inflation pressure mounts.

The USD/JPY advanced to its highest level since late-2018 and consolidated above 113 on Tuesday. The benchmark 10-year US Treasury bond yield surpassed a four-month high, above 1.6%, fueling the USD/JPY rally. Overall, the US currency still hovers around a one-year high versus major rivals in spite of the disappointing NFP data released on Friday.

Gold prices were little changed fluctuating in a very narrow range above $1,750 over the last two weeks ahead of the US CPI data on Wednesday.

US stock indexes remained flat but quite volatile. The earnings season will kick off this week, with Morgan Stanley reporting on Thursday and Goldman Sachs on Friday.

Oil prices extended big gains amid a rebound in global demand that is contributing to energy shortages in major economies. Power prices have surged to record highs in recent weeks, driven by widespread energy shortages in Asia, Europe and the United States, while the energy crisis in China is expected to last until the end of the year. However, OPEC+ is sticking to plans to restore output gradually rather than boost it quickly.

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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.