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Trading financial products on margin carries a high risk and is not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.

Trading financial products on margin carries a high degree of risk and is not suitable for all investors. Please ensure you fully understand the risks and take appropriate care to manage your risk.

Your capital is at risk.

Market Insights

Trading insights: C’mon, it's all good? Stock markets extend gains

Copy of Blog Images - Skilling - 2023-08-24T115607.531

Screenshot 2023-08-24 120614

The above chart illustrates the relative 5 day CFD product performance of the Japan 225 stock index, Eurostoxx 50 index and the US100 index.

Market Talk:

Product spotlight:

  • US100 CFD +4.5% last 5 days, outperforming many global stock indices

The US100 is super sensitive to the technology sector, so when stocks like NVIDIA jump nearly 15% the US100 tends to tag along for the ride

Screenshot 2023-08-24 120640

Need exposure to the drivers behind the digital world?

NVIDIA Corp. is very much in the “now” it's been a hot stock recently

NVIDIA makes the hardware and develops many technologies that are driving the new age digital world that power things like Bitcoin, AI and PC graphics.

Believe in digital assets, and that AI is the future?

Here's an alternative view to express your beliefs on the above:

Screenshot 2023-08-24 120708

Bitcoin miners depend on high end graphics cards manufactured by companies like NVIDIA, so one way to express a trading view on Bitcoin could be to trade the companies that produce the tools that power the lands of Crypto and AI?

Capture those emerging trends happening in the digital world economy via trading in companies like NVIDIA or technology heavy indices such as the US100 to express your views on Bitcoin & AI developments?

Skilling offers CFDs on Bitcoin, US100 and NVIDIA

Today’s economic calendar

US Durable Goods New Orders increased 4.6% during June, July’s numbers are expected to drop -4%.

Screenshot 2023-08-24 120740

Traders and investors follow the Durable goods orders data to get an understanding of trends in the manufacturing sector for new orders for items that are expected to last at least 3 years eg. dishwashers, refrigerators etc.

Screenshot 2023-08-24 120821 Source: TradingView / Skilling August 24 2023 6:25 AM UTC

Upcoming (potential) market risk event:

Jackson Hole and the US Fed Chairman’s upcoming speech

  • Tomorrow August 25 2:05 PM UTC - Jerome Powell to deliver keynote speech at the Jackson Hole 2023 economic symposium.
  • Hopefully, Powell will not say anything that diverts away from his current stance on meeting-by-meeting data dependence for further interest rate decisions.

Sticking with the main headline themes:

  1. Inflation is volatile, so financial markets are exposed which is generally what financial traders prefer keeping in mind that without volatility how can traders expect to generate a profit?
  2. The general public expects governments to solve all their problems.

Bottom line: watch the data, trade on the data, read between the lines when central bank officials speak, and most importantly, don’t believe the hype!

Today’s trading perspective

BRICs summit wrapping up, Brazil, Russia, India, China and South Africa agree to expand

Screenshot 2023-08-24 120847

Technical commentary: Brazil 50 CFD current price 120,132 is testing the 50 day moving average, short term support spotted around 117,350, relative strength above 50 suggest upside momentum building, upside prospects for 123,010 in the very short term to minor intermediate term (5-50 days) can not be ruled out (see chart), downside risk below 117,350 (see chart).

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

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