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Weekly Market Report: Monday, January 22nd, 2023, to Friday, January 26th, 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: +0.23%
  • Total pips gained of the week: Overall, about 23 pips were gained this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the low of 102.770 and high of 103.817.

This week also saw a relatively impulsive bullish move which closed at 103.474. 

This week was packed with high-impact news releases that affected the DXY this week, which resulted in the relatively impulsive bullish move for the week. The high-impact news releases this week include Flash Manufacturing PMI, Flash Service PMI, Monetary Policy Statement, Unemployment Claims, CPI among others.

In continuation with last week's bullish price movement, this week also saw a relatively impulsive bullish price movement.

Dow Jones (US30)

  • Overall Percentage gain of the week: +0.57%
  • Total Points gained this week: about 216 points were gained this week.
  • Fluctuations of price during the week: With an opening price of the week on Monday  at 37892.06, the DOW started off with a corrective bearish movement on Monday and was in an overall down trend. However, toward the end of the week, on Thursday, the DOW regained its bullish strength and then made a new all-time high at 38230.21 and closed at 38108.11.

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

Top three gainers this week: American Express Co (+7.104%), UnitedHealth Group Inc (+1.986%), and Nike Inc (+1.965%).

Three Biggest losses this week: Intel Corp (-11.907%), Visa Inc (-1.713%), and McDonald’s Corp (-1.666%).

Nasdaq (NAS100)

  • Overall Percentage gain of the week: +0.21%
  • Total Points gained this week: only about 36 points were gained this week in total.
  • Fluctuations of price during the week: The Nasdaq gapped up and opened at 17356.58 and  began with an impulsive bullish move this week. However, this bullish movement was not sustained till the end of the week as the Nasdaq also saw a decline movement on Wednesday. Price then closed at 17392.58 for the week. The price range this week was between the low of 17285.98 and high of  17666.36.

The Nasdaq showed a bidirectional movement this week in contrast to the impulsive movement of last week's impulsive bullish move.

Top three Gainers this week: Airbnb Inc (+5.285%), MercadoLibre Inc (+3.278%), and Comcast Corp (+2.187%).

Three Biggest losses for the week: Intel Corp (-11.907%), KLA Corp (-6.595%), and Globalfoundries Inc (-4.77%).

Despite ups and downs, the DXY managed a modest gain, spurred by impactful news releases.

Dow Jones (US30) showed its bullish side, hitting new highs despite initial dips. American Express Co, UnitedHealth Group Inc, and Nike Inc celebrated gains, while Intel Corp, Visa Inc, and McDonald’s Corp faced setbacks. The Nasdaq took investors on a rollercoaster, with Airbnb Inc, MercadoLibre Inc, and Comcast Corp leading the ascent, while Intel Corp, KLA Corp, and Globalfoundries Inc grappled with losses.

Flexibility and insight remain key in such volatile markets.