expand/collapse risk warning

CFDs come with a high risk of losing money rapidly due to leverage. 71% of accounts lose money when trading CFDs with this provider. You should understand how CFDs work and consider if you can take the risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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.

79% of retail investor accounts lose money when trading CFDs with this provider.

Market Insights

Trading Insights: Expect increased volatility over the next 48 hours

Copy of Blog Images - Skilling - 2023-07-06T111144.217

Screenshot 2023-07-06 110447

Market Commentary

Major economic data due to be released over the next two days

Latest development moving markets

Released yesterday: US FOMC minutes suggest increasing chances for higher US interest rates.

Risk appetite appears to have slowed as traders adjusted to the increased prospects that despite signs US inflation is slowing, the situation is that inflation remains elevated.

Buy the dips or get defensive?

The short term “risk off” conditions could be a short term correction, while longer term trends appear to remain intact.

The underlying economy remains healthy which could further support the case for the Fed to hike rates further, since with a still strong jobs market the economy looks well positioned to handle higher rates.

Market Movers last 5 days:

Silver up 2.7% last 5 days

Screenshot 2023-07-06 110511

USD vs the JPY lower last 5 days

Screenshot 2023-07-06 110532

Brent Crude Oil higher last 5 days

Screenshot 2023-07-06 110558

Germany 40 Index lower last 5 days

Screenshot 2023-07-06 110642

Do you have an opinion on where financial markets are heading? Express your opinion and trade with CFDs.


Today’s economic calendar

US JOLTs Job Openings release expected to play a key role in today's USD price action

  • The JOLTs report measures all the open US Job positions that need to be filled on the last day of the month
  • JOLTs data offers traders and investors insights into the strength of the US economy since higher JOLTs imply that companies need more people i.e. better economic conditions. In contrast, falling JOLTs imply that companies need fewer people to work.

Screenshot 2023-07-06 110728
Source: TradingView / J. Knobel July 6 2023 6:00 UTC


Trading insights & strategy

Higher tops and higher bottoms on price suggest an uptrend, current price remains contained within its multi-month upward sloping price channel.

  • Current price $4,434
  • Upside prospects for an extension toward $4,530
  • Downside risk below the internal upward sloping trendline spotted at $4,405 (see chart) could increase the risk for a deep price correction of the prevailing uptrend, which could expose the lower 4,215s.

Screenshot 2023-07-06 110840

Not investment advice. Past performance does not guarantee or predict future performance.