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 - 28/10/2024 - 01/11/2024

Weekly Overview of CFD Movements 06/11/2024

06 November, 2024
Weekly Analysis 06/11/2024 Economic Calendar

The Eurodollar reversed its recent downtrend and increased to hit a more than two week high after weaker than expected employment data sent the greenback lower on Friday.

The British pound finished the week lower following the newly elected UK Labour government's first budget statement, which included tax increases.

The USD/JPY edged higher after the Bank of Japan held interest rates steady at 0.25%, citing 'high uncertainties' following the recent Japanese election, which resulted in no single party gaining a majority.

Gold prices hit another record high midweek, as tension built ahead what looks likely to be a very tight US presidential election on November 5th. The precious metal is seeing some safe haven demand, amid worries that the result could be disputed.

Stock prices pulled back towards the end of the week after Nonfarm payrolls data came in much lower than expected. Meanwhile in the earnings season, tech giants Apple and Amazon posted better than expected results.

Crude oil prices increased after Iranian supreme leader Khameni stated that Iran would attack Israel in the coming days. Prices were also underpinned by reports that OPEC may decide to delay its production increase, originally scheduled to take place from December 1st.

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