CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.58% 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.

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Market News

View the daily news commentary to obtain insight on the financial markets.

Gold price secures third week of gains, holds above $2,400

July 12, 2024, 10:51:55 PM UTC
Gold’s price clung above $2,400 on Friday after hitting a daily low of $2,391.
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Australian Dollar finished the week at highs since January as markets bet on a dovish Fed

July 12, 2024, 9:45:48 PM UTC
The Australian Dollar (AUD) upheld its positive trajectory against the USD in Friday's session, rising by 0.30% to 0.6780.
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AUD/JPY Price Analysis: Pair drops to around 107.00, bearish outlook ahead

July 12, 2024, 9:44:02 PM UTC
In Friday's trading session, a downward turn was observed for the AUD/JPY pair as it dipped by 0.23% to reach 107.10.
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Mexican Peso appreciates, records strongest week since mid-June

July 12, 2024, 9:04:07 PM UTC
The Mexican Peso extended its rally for the ninth consecutive trading day against the Greenback on Friday following the release of Mexico’s Industrial Product figures and June’s US inflation data on the producer side.
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EUR/USD reclaims 1.0900 as Greenback plummets on rising Fed rate cut hopes

July 12, 2024, 8:58:42 PM UTC
Broad-market hopes for an accelerated pace of rate cuts from the US Federal Reserve (Fed) reached a fever pitch on Friday despite a notable upswing in US Producer Price Index (PPI) wholesale inflation.
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Silver Price Analysis: XAG/USD makes a U-turn and slides below $31.00

July 12, 2024, 8:54:53 PM UTC
Silver price reversed course and registered losses of more than 2% on Friday, though it remained above the ‘double bottom’ neckline, keeping the short-term uptrend alive.
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NZD/USD Price Analysis: Pairs regains ground, future depends on the 20-day SMA resistance hold

July 12, 2024, 8:45:58 PM UTC
On Friday's session, the NZD/USD demonstrated renewed strength after recovering from a period of decline, resulting in a rise to around 0.6120.
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GBP/USD rises to 12-month high on Friday as markets pile into rate cut hopes

July 12, 2024, 8:41:28 PM UTC
GBP/USD wrapped up Friday on the high side of a two-week rally as the US Dollar broadly buckles under the weight of investors dog-piling into hopes of getting a rate cut from the Federal Reserve (Fed) in September.
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Dow Jones Industrial Average rallies on rate cut hopes, sets new all-time high

July 12, 2024, 8:25:46 PM UTC
The Dow Jones Industrial Average (DJIA) soared over 450 points on Friday as markets pile back into renewed hopes for rate cuts from the Federal Reserve (Fed) in September even as US Producer Price Index (PPI) wholesale inflation accelerated faster than expected in June.
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United Kingdom CFTC GBP NC Net Positions climbed from previous £62K to £84.7K

July 12, 2024, 7:47:53 PM UTC
United Kingdom CFTC GBP NC Net Positions climbed from previous £62K to £84.7K
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Eurozone CFTC EUR NC Net Positions: €3.6K vs €-9.5K

July 12, 2024, 7:47:47 PM UTC
Eurozone CFTC EUR NC Net Positions: €3.6K vs €-9.5K
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United States CFTC S&P 500 NC Net Positions dipped from previous $-11.8K to $-55K

July 12, 2024, 7:47:36 PM UTC
United States CFTC S&P 500 NC Net Positions dipped from previous $-11.8K to $-55K
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United States CFTC Gold NC Net Positions up to $254.8K from previous $241.5K

July 12, 2024, 7:47:29 PM UTC
United States CFTC Gold NC Net Positions up to $254.8K from previous $241.5K
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United States CFTC Oil NC Net Positions: 283.9K vs 279.9K

July 12, 2024, 7:47:19 PM UTC
United States CFTC Oil NC Net Positions: 283.9K vs 279.9K
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NZD/JPY Price Analysis: Cross extends losses and falls to lows since mid-June

July 12, 2024, 7:47:15 PM UTC
During Friday's trading session, the NZD/JPY pair continued its substantial drop from Thursday, recording a further loss of 0.20% and settling at 96.65.
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Japan CFTC JPY NC Net Positions: ¥-182K vs ¥-184.2K

July 12, 2024, 7:47:10 PM UTC
Japan CFTC JPY NC Net Positions: ¥-182K vs ¥-184.2K
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Australia CFTC AUD NC Net Positions climbed from previous $-15.8K to $2.4K

July 12, 2024, 7:46:57 PM UTC
Australia CFTC AUD NC Net Positions climbed from previous $-15.8K to $2.4K
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US Dollar extends losses as markets continue digesting CPI figure from the US

July 12, 2024, 7:44:19 PM UTC
The US Dollar Index (DXY) remains weak on Friday, sitting at April lows.
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Argentina Consumer Price Index (MoM) below forecasts (5.1%) in June: Actual (4.6%)

July 12, 2024, 7:08:09 PM UTC
Argentina Consumer Price Index (MoM) below forecasts (5.1%) in June: Actual (4.6%)
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United States Baker Hughes US Oil Rig Count fell from previous 479 to 478

July 12, 2024, 5:01:26 PM UTC
United States Baker Hughes US Oil Rig Count fell from previous 479 to 478
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Canadian Dollar softens on Friday as markets grapple with acceleration in US PPI inflation

July 12, 2024, 4:56:01 PM UTC
The Canadian Dollar (CAD) shed weight on Friday, falling to the bottom as one of the poorest-performing major currencies for the last session of the trading week.
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Yen weakness should be limited in the near term – UBS

July 12, 2024, 3:55:45 PM UTC
Speculative investors’ short Japanese Yen (JPY) positions are close to a record.
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AUD: Room to appreciate amid sticky core inflation – UBS

July 12, 2024, 3:15:42 PM UTC
The Australian Dollar (AUD) should appreciate against the US Dollar (USD) and the New Zealand Dollar (NZD) amid sticky core inflation, UBS FX strategists note.
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CHF: SNB is likely near the end of its easing cycle – UBS

July 12, 2024, 3:04:04 PM UTC
Swiss National Bank (SNB) seems to be near the end of its easing cycle, and the Swiss Franc (CHF) should appreciate against both the US Dollar (USD) and the Euro (EUR), UBS FX analysts note.
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Mexican Peso trades mixed after Banxico Minutes

July 12, 2024, 2:58:00 PM UTC
The Mexican Peso (MXN) trades mixed in its major pairs on Friday as markets digest recent market-moving data.
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US Dollar weakens as CPI reinforces hopes for Fed rate cuts – UBS

July 12, 2024, 2:48:56 PM UTC
The US dollar (USD) came under further pressure after the consumer price index for June showed underlying inflation rising at its slowest pace in three years.
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GBP/USD Price Analysis: Soars as bulls set their sights at 1.3000

July 12, 2024, 2:46:38 PM UTC
The Pound Serling rallied sharply against the US Dollar on Friday, up by more than 0.50% even though US inflation data on the producer front was slightly higher than expected, contrary to consumer prices revealed on Thursday.
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XAU/USD and XAG/USD lose their longs – TDS

July 12, 2024, 2:33:16 PM UTC
Gold (XAU/USD) traded strong Thursday, commodity trading advisors (CTAs) are unwinding a portion of their length.
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Pound Sterling surges as soft US Inflation boosts Fed rate-cut prospects

July 12, 2024, 2:31:03 PM UTC
The Pound Sterling (GBP) gains to an annual high near 1.2950 against the US Dollar (USD) in Friday’s New York session.
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EUR/USD trades close to 1.0900 as Fed rate-cut bets shoot

July 12, 2024, 2:27:49 PM UTC
EUR/USD recaptures a monthly high of 1.0900 in Friday’s American session.
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There is a high level of risk in Margined Transaction products, as Contract for Difference (CFDs) are complex instruments and come with a high risk of losing money rapidly due to the leverage. Trading CFDs may not be suitable for all traders as it could result in the loss of the total deposit or incur a negative balance; only use risk capital.

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