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 - 20/05/2024 - 24/05/2024

Weekly Overview of CFD Movements 29/05/2024

29 May, 2024
Weekly Analysis 29/05/2024 Economic Calendar

The Eurodollar fell despite private sector activity growing at its fastest pace in a year. The greenback climbed against its rivals after latest Fed meeting minutes showed officials remained concerned about high inflation.

The British pound edged upwards in a week that was dominated by headlines about Prime Minister Sunak’s decision to set a General Election date of July 4th.

The USD/JPY climbed to record a three week high. The ongoing weakness of the yen is continuing to put pressure on Bank of Japan policymakers to raise interest rates.

Gold fell sharply to hit a two week low by the end of the week. Better than expected US data and hawkish Fed meeting minutes raised fears among traders that there may only be one interest rate cut this year.

Stock indexes were mixed, with industrials falling, but tech stocks climbing. Nvidia jumped after the company revealled better than expected earnings results. The chipmaker also surprised investors with the announcement of a 10:1 stock split which will take place on June 7th.

Oil prices decreased and hit an almost three month low on Friday. The falls came ahead of next week’s OPEC meeting, amid reports of disagreement among members on whether to continue existing production cuts into the third quarter.

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