HomePricingFAQsAbout usContacts
en_US
en_US it_IT es_ES de_DE el tr_TR cs_CZ ja

Weekly Market Report: Monday, April 29th, 2024, to Friday, May 3rd, 2024.

Good day, traders!

Welcome to this week's edition of our weekly market review, where we share with you some important data and highlight major market events that occurred during the trading week as they relate to DXY, Dow Jones (US30), and the Nasdaq (NAS100).

DXY

  • Overall Percentage loss of the week: -0.96%
  • Total pips loss of the week: Overall, more than hundred (100) pips was lost this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the high of 106.490 and a low of 104.522.

This trading week marked the last trading week of April and transitioned into the first trading day and week of May.

This week was moderately packed with high-impact news releases that affected the DXY and indices. 

The DXY price range was about 200 pips. The high-impact news releases this week included the German Prelim CPI m/m, Employment cost index q/q, CB Consumer confidence, Unemployment Claim, FOMC, Manufacturing PMI, Unemployment rate among others.

Price movement this week was bi-directional giving a bearish sentiment Monday, and a bullish sentiment on Tuesday that saw price trade above previous week's high and made the high of the week at 106.490. However, the news releases from the mid week towards the end of the week saw the DXY move bearishly and impulsively. Price then made a low of the week 104.522 and then closed for the week at 105.076.

Dow Jones (US30)

  • Overall Percentage Gain of the week: +1.15%
  • Total Points gained this week: over 400 points was gained this week.
  • Fluctuations of price during the week: With an opening price of the week on Monday  at 38270.36, the DOW started off with a bullish close and an impulsive bearish move on Tuesday. However, this bearish movement was reversed as Wednesday's price action saw a reversal which continued for the rest of the week to close at 38710.32.

The price action of the DOW this week ended up bearish which is in continuation of last week's bullish move.

According to CNBC, below were the top three (3) gainers and losers on the DOW this week.

Top three gainers this week: Amgen Inc (+11.818%), Apple Inc (+5.982%), and Microsoft Corp (+2.217%).

Three Biggest losses this week: McDonald’s Corp (-1.083%), American Express Co (-0.744%), and JPMorgan Chase & Co (-0.600%).

Nasdaq (NAS100)

  • Overall Percentage gain of the week: +0.94%.
  • Total Points gained this week: a moderate 167 points approximately were gained this week in total.
  • Fluctuations of price during the week: With an opening price that gapped from last week's closing price, at 17742.67 on Monday, the Nasdaq also began with a moderate bullish close on Monday, however, Tuesday saw a very impulsive bearish move. However, the rest of the week was bullish and was very impulsive which was due to the news injection this week.

This week in the end showed a bullish move in continuation of last week's bullish move.

According to CNBC, below were the top three (3) gainers and losers on the NASDAQ this week.

Top three Gainers this week: Amgen Inc (+11.818%), MercadoLibre Inc (+8.272%), and Apple Inc (+5.982%).

Three Biggest losses for the week: Fortinet Inc (-9.693%), Illumina Inc (-4.888%), and Starbucks Corp (-2.429%).

Overall, the DXY experienced a bi-directional movement amid high-impact news releases, resulting in a bearish close.

Meanwhile, the Dow Jones saw a bullish trend, with notable gains, while the Nasdaq showed a moderate bullish move despite initial volatility. 

Amidst fluctuations, notable performers included Amgen Inc, Apple Inc, and Microsoft Corp as top gainers, while McDonald’s Corp, American Express Co, and JPMorgan Chase & Co faced losses.