Weekly Market Report: Monday, January 29th, 2023, to Friday, February 2nd, 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).


  • Overall Percentage gain of the week: +0.47%
  • Total pips gain of the week: Overall, about 48.8 pips gained this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the high of 104.043 and low of 102.901.

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.

Dow Jones (US30)

  • Overall Percentage gain of the week: +1.42%
  • Total Points gained this week: a massive 539.30 points were gained this week.
  • Fluctuations of price during the week: With an opening price of the week on Monday  at 38108.61, the DOW started off with an impulsive bullish movement on Monday. However, this bullish movement was cut short as Wednesdays price action saw a deep reversal. Price then regained its bullish momentum on Thursday which continued for the rest of the week to close at 38647.91. This week made a new record high at 38784.51 in continuation of four-week bullish streak.

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%).

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