Weekly Market Report: Monday, January 15th, 2023, to Friday, January 19th, 2023.

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 gain of the week: +0.78%
  • Total pips gained of the week: Overall, 80 pips were gained this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the low of 102.313 and high of 103.692.

This week saw a relatively impulsive bullish move to close at 103.239. 

This week was packed with high-impact news releases that affected the DXY this week, which resulted in the impulsive bullish move for the week. The high-impact news releases this week include CPI, BOE Gov. Bailey speaking, Retail sales, Unemployment Claims, Unemployment rate, Employment change and others.

In contrast to last week's indecisive price movement, this week saw a very impulsive bullish price movement as seen from the pips gained throughout the week.

Dow Jones (US30)

  • Overall Percentage gain of the week: +0.93%
  • Total Points gained this week: about 348.69 points were gained this week.
  • Fluctuations of price during the week: With an opening price of the week on Monday  at 37543.37, the DOW started off with an impulsive bullish movement on Monday. However, toward the end of the week, the DOW saw a consolidation and then closed at 37892.06.

The price action of the DOW this week was overall bullish.

Top three gainers this week: Travelers Companies Inc (+6.715%), Intel Corp (+3.017%), and International Business Machines Corp (+2.781%).

Three Biggest losses this week: UnitedHealth Group Inc (-2.475%), Walgreens Boots Alliance Inc (-0.677%), and Coca-Cola Co (-0.549%).

Nasdaq (NAS100)

  • Overall Percentage gain of the week: +3.03%
  • Total Points gained this week: a massive 510.25 points were gained this week in total.
  • Fluctuations of price during the week: The Nasdaq opened at 16822.20 and  began with an impulsive bullish move this week. This bullish movement was sustained till the end of the week on Friday where price closed at 17332.45. The price range this week was between the low of 16558.67 and high of  17338.95.

The Nasdaq showed a bullish unidirectional movement throughout in continuation of last week's impulsive bullish move.

Top three Gainers this week: Advanced Micro Devices Inc (+7.106%), PayPal Holdings Inc (+6.007%), and Broadcom Inc (+5.883%).

Three Biggest losses for the week: Dollar Tree Inc (-1.532%), PepsiCo Inc. (-0.832%), and Fortinet Inc (-0.831%).

Overall, the DXY displayed a solid 0.78% gain, propelled by a series of impactful news releases. Dow Jones followed suit, marking a notable 0.93% gain, which was a bullish start, consolidating towards week-end closure. Also, the Nasdaq continued its bullish unidirectional movement, achieving an impressive 3.03% gain. 

Overall, this week showed an impulsive bullish sentiment across the DXY and major indices.

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