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).
This trading week marked the last trading week of January and transitioned into the first trading week of February.
This week was packed with a lot of high-impact news releases that affected the DXY and indices. Price ranged for only about 105 pips. The high-impact news releases this week included the Employment Cost Index, FOMC, Unemployment claims, BOE Monetary Policy Report, unemployment rate and the popular Non-farm Payroll.
Price movement this week initially was more or less in a range. However, when the Non-farm Payroll news was released, price moved impulsively bullish with about 105 pips increase. This led price to close overall bullish for the week.
The price action of the DOW this week ended up bullish.
Top three gainers this week: Chevron Corp (+2.941%), Caterpillar Inc (+2.405%), and Microsoft Corp (+1.843%).