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Weekly Market Report: Monday, April 8th, to Friday, April 12th, 2024.

Good day, traders!

Welcome to the first weekly market report of the month of April 2024, 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: -0.24%
  • Total Pip-Loss of the week: About 25 pips were lost this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the high of 105.100 and the low of 103.915.

The first trading week of this month was packed with a lot of high impact news that affected the volatility of the DXY this week. These news events include, Unemployment claims, Unemployment rate, and Non-Farm Payroll among others.

Price movement this week was more like a bi-directional movement as the DXY began its uptrend from the opening price at 104.539. However, this move was not sustained as Tuesday made the high of the week and reversed for the rest of the week till it made the week's low at 103.915 on Thursday. Friday saw the close of the market at 104.286.

Overall, this week also showed a bearish movement in contrast to the previous week's bullish move.

Dow Jones (US30)

  • Overall Percentage loss of the week: -2.14%
  • Total Points lost this week: over 850 points were lost
  • Fluctuations of price during the week: With an opening price on Monday at 39804.37, the DOW briefly surged higher to clinch an all-time high and week's high at 40045.66. After which, an impulsive bearish trend was observed for the rest of week catalysed by the high impact news releases.

The price action of the DOW this week mostly unidirectional as it showed a bearish move this week. 

Top three gainers this week: Amazon.com Inc (+2.817%), Salesforce Inc (+2.642%), and Caterpillar Inc (+2.572%).

Three Biggest losses this week: Intel Corp (-2.567%), McDonald’s Corp (-1.259%), and Verizon Communications Inc (-0.777%).

Nasdaq (NAS100)

  • Overall Percentage loss of the week: -1.24%
  • Total Points lost this week:over  240 points were lost this week in total.
  • Fluctuations of price during the week: With an opening price at 18341.27 on Monday, the Nasdaq also began with a bearish move throughout the week. However, Friday saw a brief retracement in price and closed at 18114.51.

NASDAQ was overall bearish for the week.

Top three Gainers this week: MongoDB Inc (+5.551%), Constellation Energy Corp (+5.445%), and Dexcom Inc (+4.192%).

Three Biggest losses for the week: Tesla Inc (-3.629%), Intel Corp (-2.567%), and Sirius XM Holdings Inc (-1.69%).

In wrapping up, let's recap the first week of April 2024 in the trading world. It was a bit of a mixed bag!

The DXY saw a small dip amid some ups and downs driven by big news releases. 

Meanwhile, the Dow Jones (US30) had a tough time, facing a notable downturn due to some bearish trends and impactful economic news. 

Over in the Nasdaq (NAS100), there were losses too, though not as hefty, with a bit of a bounce-back towards the week's end.

And this wraps up this week's market report. Happy Trading.