Weekly Overview of CFD Movements - 21/10/2024 - 25/10/2024
October 30, 2024
Risk Disclaimer: The example below is for illustrative purposes only and is based on price movements derived from Contracts for Difference (CFDs). The calculations reflect hypothetical outcomes using historical or specified price data for the relevant instrument on the stated date and are not indicative of future performance. Any reliance placed on this material is strictly at the user’s own risk.
The Eurodollar saw another week of decline, recording an almost three month low as the Greenback continued to gain growth against most of its peers.
The British pound fell as expectations built that the Bank of England will likely cut interest rates in the upcoming months.
The USD/JPY climbed close to a three month peak after Japanese government officials implied that rates are unlikely to increase in the near future.
Gold prices jumped to another all time peak on rising geopolitical tensions in the Middle East and between China and Taiwan. The US Presidential Election remains too close to call and concerns over a potentially disputed election result could cause instability in the United States.
Stock prices fell for the first time in six weeks as markets digested the earnings season, ahead of the uncertain US Presidential Election. Tesla posted better than expected earnings with the stock jumping to a more than three month high.
Crude oil prices climbed in a volatile week that saw oil prices hit a ten day high. Prices were underpinned by rising fear that Israel was likely to launch an attack against Iran, potentially disrupting regional oil supplies.