The world of trading and investing is constantly changing, and staying on top of the latest market trends and data is crucial for making informed decisions. This post analyzes the previous week’s market statistics and their implications for traders and investors.
It covers top payouts, trading stats, and instruments, as well as the impact of the global market update on major currency pairs.
Top 5 Payouts:
Last week, the highest payouts recorded were;
- $42,933 – 280k Account Size (Scaled up) – 15.33%
- $35,054 – 280k Account Size (Scaled up) – 12.52%
- $30,165 – 200k Account Size – 15.08%
- $24,622 – 140k Account Size (Scaled up) – 17.58%
- $18,224 – 100k Account Size – 18.22%
These substantial payout amounts demonstrate the volatility of the market and the presence of numerous profitable opportunities for traders. The significant payouts indicate that traders were successful in capitalizing on these opportunities by making astute investment decisions.
Weekly Trading Stats:
During the week, traders received a total payout of $1,083,417, distributed among 600 individuals. This suggests that a considerable number of traders actively engaged in the market, and those who made sound investments were able to achieve substantial profits.
Throughout this period, a total of 1,068,350 trades were executed, involving a total of 714,682 lots. These figures highlight a notable level of trading activity, indicating a market environment characterized by volatility and movement.
Weekly Trading Instruments:
The top trading pairs during the week were XAUUSD, EURUSD, NDX100, US30 & GBPUSD. These pairs are popular among traders and investors and are known to be volatile, which makes them attractive for investment. The high trading volume of these pairs indicates that they were in demand during the week, and traders were able to make profits by investing in them.
During the week, the USDJPY, USDCHF, and EURUSD currency pairs performed well and had winning percentages of 54.65%, 53.76%, and 53.45% respectively. This implies that traders who traded these pairs potentially made notable profits.
On the other hand, the EURCAD, USDCAD & AUDCHF currency pairs did not perform as well and had losing percentages of 53.86%, 53.1%, and 52.19% respectively. This suggests that traders who invested in these pairs might have experienced losses.
|| Gold Prices Soar as Soft PCE Figures Spell Trouble for the US Dollar: Key Factors to Watch! ||
Global Market Update:
- Gold gains momentum: The XAU/USD rises by 0.50% near $1,920, fueled by declining US yields and a weakened US Dollar due to soft Personal Consumer Expenditures (PCE) figures.
- Market awaits crucial labor data: With the next Federal Reserve decision looming, investors closely watch the upcoming labor market data, including Non-farm Payrolls (NFP) and Unemployment Rate, to determine the future trajectory of gold prices.
- Economists at Wells Fargo project a relatively stable to slightly stronger US Dollar for the remainder of 2023, deviating from their previous forecast of broad-based depreciation. They attribute this shift to expectations of a delayed and less severe US recession, as well as a later easing stance by the Federal Reserve. However, their outlook remains bearish for the Dollar in 2024, predicting a decline of 4.5% in its trade-weighted value over the course of the year.
EUR/USD: EUR/USD Sees Mild Positive Bias But Lacks Conviction – What’s Next?
- EUR/USD trades just above 1.0900, the uptick lacks bullish conviction.
- US bond yield downtrend and weakened business activity weigh on the USD.
- Disappointing Eurozone PMI prints and Federal Reserve’s hawkish outlook cap the pair.
GBP/USD: GBP/USD Notches Intraday Gains, However, Limited Upside Expected
- Uptrends are losing momentum; caution is advised.
- Potential test of March/April 2022 lows at 1.2973/1.3000.
- Support at 1.2580/30 (broken downtrend, potential uptrend, 55-DMA), break lower reinforces negative momentum, next support at 1.2310.
EUR/JPY: EUR/JPY Rebounds as Support Holds: Soft Inflation Data Impacting JPY, German Yields Retreat
- Support holds, rebounding towards 157.50: EUR/JPY gains momentum and is poised for a weekly gain as it finds support at 156.70 and recovers towards the 157.50 level.
- Soft inflation data weighs on JPY: The Japanese yen (JPY) loses appeal after Japan reports soft inflation data, reinforcing the dovish stance of the Bank of Japan (BoJ).
- German yields retreat on weak data: Disappointing Eurozone HICP and mixed German economic data contribute to the retreat of German yields, impacting the euro (EUR) against the yen (JPY).
AUD/USD: AUD/USD Surges as US Inflation Cools, Fed Rate Hike Expectations Ease
- AUD/USD climbs 0.66% as US inflation slows, weakening the US Dollar.
- Diminished expectations of aggressive Fed hikes support the Australian Dollar.
- Reassessment of the Fed tightening stance leads to a surge in AUD/USD and a drop in the US Dollar Index.
NZD/USD: NZD/USD Recovers as Soft PCE Data Weakens US Dollar
- NZD/USD stages a recovery: The NZD/USD pair bounces back and climbs to 0.6130, up 0.90% on the day, erasing part of its previous day’s losses.
- Soft PCE data impacts US Dollar: The release of soft Personal Consumption Expenditures (PCE) data from the US leads to a retreat in US bond yields and weakens the US Dollar.
- US bond yields remain positive: Despite the retreat, US bond yields maintain a positive stance following the data release.
Gold Prices Surge as US Dollar Weakens on Consumer Inflation Data:
- US dollar weakens: The US dollar experiences a decline following the release of consumer inflation data, causing the DXY index to drop 0.4% from its two-week highs.
- XAU/USD reaches a three-day high: Gold prices have their best day in weeks, with XAU/USD surging from around $1,905 to $1,920 in response to the decline in the US dollar.
- Softened rate hike expectations: The figures of the US Core Personal Consumption Expenditure Price Index lead to softened rate hike expectations for the upcoming Federal Reserve meeting, with the focus shifting to next week’s US labor market data.
Silver Price Consolidates as Traders Seek Direction Amid Strong US Dollar:
- XAG/USD holds around $22.60, facing uncertainty as traders struggle to find clear directions amidst strong US Dollar and upbeat options market signals.
- Risk reversal (RR) shows mixed sentiment: One-month risk reversal indicates a daily loss but weekly risk reversal reflects the strongest bullish bias in 1.5 months.
- Key data to watch: China’s PMI details for June and the US Core PCE Price Index for May will be important factors influencing the silver market. Economic optimism in the US has been impacting precious metals.
WTI Crude Oil Steady Amidst Market Uncertainty and Mixed Catalysts:
- Mixed China data dampen cautious market optimism as concerns over demand depletion weigh on WTI crude oil prices.
- A firmer US Dollar and hawkish central banks contribute to bearish sentiment in the energy market.
- OPEC+ seminar in Vienna and US Nonfarm Payrolls (NFP) data are awaited for clearer direction in the crude oil market. Technical analysis suggests bearish pressure despite recent recovery.
Watch out for Next Week’s Important Dates
- On 3rd July, the United States ISM Manufacturing PMI report will come out. A figure that is higher than anticipated should be viewed as positive (bullish) for the USD, while a figure that is lower than anticipated should be viewed as unfavorable (bearish).
- On 6th July, the United States Initial JOLTS Job Openings report will have a significant impact on British bond and stock markets. A higher-than-expected figure should be seen as positive (Bullish) for the USD,, while a lower-than-expected figure should be seen as negative (bearish) for the USD.
- It is important to pay attention to the United States NFP report on the 7th of July as it may have significant impacts on major currencies. A higher-than-expected figure should be seen as Positive (bullish) for the USD while a lower-than-expected figure should be seen as negative (bearish) for the USD.