Weekly Market Wrap With Gary Thomson: Hang Seng Index, XAU/USD, Microsoft and Netflix Shares
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
- Hang Seng Index (HSI) Drops Nearly 10% Today
- Analysis of...
USD/CAD Analysis: Exchange Rate Rises for Seven Consecutive Days
Data shows that USD/CAD has formed seven consecutive bullish candles since 3 October, and today could mark the eighth in this sequence.
This strong rise in the pair has been driven by the strengthening of the US dollar amid several fundamental factors. Media reports suggest that traders are...
Tesla (TSLA) Shares Fall After ‘We, Robot’ Presentation
On 10 October, at the Warner Brothers studio in Burbank, California, Elon Musk unveiled three products during the presentation of “We, Robot”:
→ Cybercab – an autonomous robotaxi that Musk claims will be produced in very large quantities.
→ Robovan – an autonomous bus capable of transporting 20 people or...
Market Analysis: WTI Crude Oil Price Target Additional Gains
WTI Crude oil prices are gaining bullish momentum and might even test $78.00.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI Crude oil prices extended gains above the $72.40 and $73.50 resistance levels.
- There was a move above a connecting bearish trend line with resistance...
Market Analysis: Gold Price Target Additional Gains
Gold price started a fresh increase above the $2,618 resistance level.
Important Takeaways for Gold Price Analysis Today
- Gold price started a steady increase from the $2,600 zone against the US Dollar.
- It cleared a key bearish trend line with resistance at $2,630 on the hourly chart of gold at...
USD/JPY Chart Analysis: Bears May Take Control
As shown in today’s USD/JPY chart, the US dollar has gained over 3.6% against the yen since the start of the month. Yesterday, the exchange rate surpassed the peak formed on 16 August around the 149.40 level, marking a 10-week high.
The bullish sentiment towards the US dollar has been influenced by increased market...
The Netflix (NFLX) Share Price Has Reached an All-Time High
As shown in the daily chart for Netflix (NFLX), during yesterday’s trading session, the price exceeded $725, marking a new all-time high.
The bullish sentiment is driven by the upcoming release of the third-quarter earnings report, scheduled for 17 October. According to Zacks analysts' forecasts: →...
CPI Report: How Can You Use It in Trading?
The Consumer Price Index (CPI) report is a vital economic indicator that measures inflation by tracking changes in the prices of goods and services. Understanding CPI data is crucial for traders as it influences interest rates, market trends, and investment strategies. This article delves into the intricacies of the CPI...
Microsoft (MSFT) Shares Drop Over 3% This Month
An overview of stock market charts since the beginning of the month reveals that while the Nasdaq 100 index (US Tech 100 mini on FXOpen) is in positive territory, Microsoft (MSFT) shares have underperformed significantly. The opening price on 1st October was $427.47, but by yesterday's close, it had fallen over...
Market Analysis: NZD/USD Take Hit, Turn Red
NZD/USD is also moving lower and might struggle to recover above 0.6225.
Important Takeaways for NZD/USD Analysis Today
- NZD/USD declined steadily from the 0.6380 resistance zone.
- There is a key bearish trend line forming with resistance at 0.6145 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical...
Market Analysis: AUD/USD Take Hit, Turn Red
AUD/USD declined below the 0.6855 and 0.6830 support levels.
Important Takeaways for AUD/USD Analysis Today
- The Aussie Dollar started a fresh decline from well above the 0.6900 level against the US Dollar.
- There is a connecting bearish trend line forming with resistance at 0.6755 on the hourly chart of...
Analysis of XAU/USD: Gold Price Drops to a Two-Week Low
The XAU/USD chart shows that yesterday, the price of gold fell below $2610, a level not seen since 20th September.
Bearish sentiment has been driven by the continued strengthening of the US dollar. According to Trading Economics:
→ This is due to market participants lowering expectations for an aggressive...
What Is a Global Macro Strategy, and How Do Traders Use It in Trading?
A global macro strategy is a comprehensive investment and trading approach that includes analysis of economic, political, and global trends to make decisions. This article delves into the core components, analytical tools, and practical applications of global macro strategy, providing a...
Hang Seng Index (HSI) Drops Nearly 10% Today
As shown on the Hang Seng Index chart (Hong Kong 50 on FXOpen), prices have fallen by almost 10% since trading began today, and the session is not over yet.
According to Reuters, bearish sentiment was driven by uncertain statements from Chinese officials regarding economic stimulus measures. This has raised doubts in...
XBR/USD Analysis: Brent Crude Price Fails to Hold Above $80
As shown on the XBR/USD chart, Brent crude oil prices surged by over 8.5% last week — marking the largest increase in 2024, driven by escalating tensions in the Middle East.
Although oil prices continued to climb earlier this week, a pullback occurred on Tuesday, causing Brent crude to drop below the...
What Is Confluence in Trading, and How Can You Use It?
Confluence in trading involves the strategic alignment of multiple signals to validate trade decisions. This method is supposed to enhance the reliability of trade signals and allows traders to filter out low-probability outcomes. This article delves into the key components of confluence trading, its...
Meta Platforms (META) Stock Price Nears $600 Milestone
As reported by Barron’s, October has historically been the second-best month for the information technology sector in the S&P 500. The sector typically gains an average of 2.7% in October, according to Dow Jones Market Data. The best month is November, with an average increase of 3.1%. This trend likely...
EUR/USD Analysis: The Exchange Rate Falls Below 1.100
As shown in today's EUR/USD chart, the euro has dropped below the 1.100 level against the US dollar. This decline is partly due to Friday's strong US jobs report, which revealed:
→ the largest job growth in six months,
→ a decrease in the unemployment rate,
→ solid wage growth.
These factors suggest a...
