CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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. 75% 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 - 07/10/2024 - 11/10/2024

Weekly Overview of CFD Movements 16/10/2024

16 October, 2024
Weekly Analysis 16/10/2024 Economic Calendar

The Eurodollar continued lower last week after US CPI inflation data came in higher than expected, reducing the chances of a sharper Fed rate cut in November.

The British pound fell slightly, but traded mostly in a range following better than expected Manufacturing data last week and in line with expectations GDP figures.

The USD/JPY rose to a seven week high as traders absorb the consequences of disagreement between a Bank of Japan that wants to cut rates and its new government that prefers to pause rate cuts.

Gold prices traded higher, after hitting a more than two week low earlier in the week, as market participants priced in the idea of a likely smaller rate cut of 25 basis points in November.

Stock index prices ended the week at record highs. This followed Thursday’s reveal of Tesla’s futuristic looking Robotaxi. The event also saw the unveiling of the 20 seat Robovan and a walking and talking Optimus Robot. The third quarter earnings season also kicked off.

Crude oil prices recorded their second successive week of gains as market participants awaited a potential Israeli attack upon Iranian oil supplies. Meanwhile in the US, Hurricane Milton saw a quarter of gasoline stations in Florida sell out, as people scrambled to flee the destruction.

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