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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.

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Market Insights

Trading Insights: Stop complaining, the world is wealthier

Copy of Blog Images - Skilling - 2023-07-31T094251.633

Screenshot 2023-07-31 110143
Source: World Bank 31/7/2023 7:30 UTC

The above chart illustrates the Gross Domestic Product Per Capita growth of the world vs the United States and Europe.

Market Talk:

The citizens of the world have been getting wealthier and higher inflation is just part of the progress

  • Gross domestic product (GDP) per capita measures how prosperous a country is.
  • Traders and investors use GDP per capita to get insights into global “wealth” developments and trends.

Euro Stoxx 50 - Bullish Rectangle Pattern?

The below chart suggests the potential completion of a bullish rectangle pattern.

Screenshot 2023-07-31 110214

Technical commentary:

EUSTX 50 (Euro Stoxx 50 Index) current price €4,467 and the resumption of the prevailing October 2022 - April 2023 uptrend could have been restarted after the multi-month of sideways price action (see chart). The break above the €4,447s suggests the completion of the bullish rectangle pattern formation (see chart). Upside prospects for an extension towards €4,550 can not be ruled out. Downside risk seen below the €4,220s.

Today’s economic calendar

German retail sales increase year-on-year

  • Germany 40 CFD moved higher on the better than expected retail sales, the Germany 40 (DAX index) bullish cycle seems to be holding

Screenshot 2023-07-31 110237
Source: TradingView / J. Knobel July 31 2023 6:33 AM UTC

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Analyzing yesterday's market insights could help comprehend trends and make informed decisions for today's trading. Check out our previous trading insight here!

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