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March 13, 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 fell after the European Central Bank decided to stick to its current interest rate of 4.5%. But ECB head Lagarde signaled that a June rate cut is likely.
The British pound pushed higher after the UK government cut taxes in its spring budget. It was also revealed that growth projections for the UK have increased from 0.8% to 0.9% this year.
The USD/Yen fell firmly last week after markets began to prepare for a potential interest increase from the Bank of Japan. The bank signaled it was moving towards hitting its 2% inflation target on Thursday.
Gold prices continued to climb to hit an all-time high on Friday after the US unemployment rate climbed from 3.7% to 3.9%. In Geopolitics Israel and Hamas ceasefire talks stalled and Israel stated it would continue its operation into Gaza.
The price of stocks had a volatile and mixed trading week after hitting another all-time high and then pulling back slightly on Friday. Amazon and Netflix both picked up awards at the annual Academy Awards for films shown on their streaming platforms.
Oil prices fell following mixed oil demand data from the world's second-largest consumer, China. Fears linger that the Chinese economy is still underperforming.