Weekly Overview of CFD Movements - 11/11/2024 - 15/11/2024
November 20, 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 sank to a more than one year low after a political crisis engulfed Germany, Europe’s largest economy, which is likely to lead to early elections in February.
The British pound continued to decline last week amid concerns that both UK and European economies could potentially be hit by tariffs by an incoming US administration.
The USD/JPY increased in a volatile week that saw both a three month high and then a one month low, as uncertainty continued about the Bank of Japan’s future interest rate path.
Gold prices fell sharply as market participants grew concerned that a new Republican administration could raise tariffs causing inflation. The move could cause the Fed to scale back potential interest rate cuts next year.
Stock prices hit fresh record highs early in the week, but pulled back to finish lower as some traders may have opted to safeguard their returns.
Crude oil prices slipped as expectations grew that the incoming US administration intends to increase oil output in the coming months.