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CFDs come with a high risk of losing money rapidly due to leverage. 80% 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. 80% 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.

80% of retail investor accounts lose money when trading CFDs with this provider.

Market Insights

Trading Insights: US dollar weakest since April 2022

Copy of Blog Images - Skilling - 2023-07-17T102706.470

Screenshot 2023-07-17 102926

The above chart illustrates the 16 month percentage performance of the US dollar vs the EUR, JPY, GBP, CAD, SEK, and the CHF.

USD vs developed and emerging market currencies

The table below illustrates the previous 52-week percentage performance of the US dollar vs a basket of developed and emerging market FX pairs.

Screenshot 2023-07-17 103138
Source TradingView July 17th 2023 7:06 AM UTC


Market Commentary

Despite elevated inflation, robust US economic data i.e. strong jobs market is supporting the current risk on theme across financial markets

  • German 40 Index (DAX) above its 50 day moving average, suggesting the minor intermediate term (26-49 days) uptrend remains intact. Upside extension towards €16,790s can not be ruled out, downside risk seen below the €14,684 support (see chart 1)

Screenshot 2023-07-17 103208

  • SP500 Index broke above the key $4,500 resistance suggesting that further upside could remain on the table, eyes on the $4,670s provided price holds above the $4,320s.

Screenshot 2023-07-17 103234

Today’s Earnings Deck

The general consensus of online analysts suggests the below table of companies to report positive earnings today.

Screenshot 2023-07-17 103307
Source: Tradingview July 17 2023 7:45 UTC

The above table indicates the expected earnings per share estimate for the companies due to report today.

Indices to keep an eye on during earnings season: Dowjones 30; SP500 and the US100.

*Do your own research or speak with your financial advisor before making investment decisions.

Today’s economic calendar

Screenshot 2023-07-17 103411
Source: TradingView / J. Knobel July 17 2023 6:42 AM UTC

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

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