Weekly Market Report: Monday, June 24th, 2024, to Friday, June 28th, 2024.

Good day, traders!

Welcome to this week's market report where we share with you some important data and highlight major market events that occurred during the trading week as they relate to US Dollar Index (DXY), Dow Jones (US30), and the Nasdaq (NAS100).

DXY

  • Overall Percentage Gain of the week: +0.02%
  • Total Pip Gain of the week: only about 17 pips were gained overall this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the low of 105.371 and the high of 106.130.

This week marked the last trading week of the month of June and it was packed with red folder news that affected the movement of the US. Dollar Index.

At the beginning of the week, the DXY experienced a 0.33% decline in price movement on Monday from the opening price at 105.832. This was as a result of the fodder news available for price to run on. However, the red folder news releases on Tuesday and Wednesday reversed price action leading to a 0.5% increase from Monday's closing price at 105.482. Among the news events that impacted the upclimb in the DXY toward the end of this week include CB Consumer Confidence and New Home Sales. Thursday and Friday saw a downward surge again as price closed at 105.849 just few pips above the week's opening price

Monday had the low of the week at 105.371 while Wednesday had the high of the week at 106.130.

Overall, this week also showed a very little bullish close.

Dow Jones (US30)

  • Overall Percentage Loss of the week: -0.03%
  • Total Points lost this week: only about 13 points were lost
  • Fluctuations of price during the week: With an opening price of the week on Monday at 39,228.11, the DOW began with an impulsive bullish move that made the high of the week at 39,657.29. Tuesday then saw a complete reversal in price action with about -0.92% loss from Monday's closing price. The rest of the week showed insignificant price movement and price closed at 39,214,45 for the week.

The price action of the DOW this week was bidirectional as it showed bullish intent at the start of the week. However, it was not sustained throughout the week.

Top three gainers this week: Unitedhealth Group Inc (+4.691%), Caterpillar Inc (+1.722%), and Salesforce Inc (+1.681%).

Three Biggest losses this week: Nike Inc (-19.981%), Merck & Co Inc (-4.637%), and Walt Disney Co (-2.819%).

Nasdaq (NAS100)

  • Overall Percentage loss of the week: -0.15%
  • Total Points lost this week: only about 30 pips was lost overall.
  • Fluctuations of price during the week: With an opening price at 19,747.97 on Monday, the Nasdaq began with an impulsive bearish, losing about -1.32% from the week's opening price. Monday also made the low of the week at 19,465.34. However, Tuesday saw an upclimb in price leading to a 1.08% increase from Monday's closing price. Price finally made the high of the week on Friday at 20,022.30 and had a bearish close for the week at 19,717.53. 

Overall, the NASDAQ experienced and bidirectional bearish move this week.

Top three Gainers this week: MongoDB Inc (+2.38%), Microchip Technology Inc (+2.315%), and Comcast Corp (+2.299%).

Three Biggest losses for the week: Lululemon Athletica Inc (-3.114%), Meta Platforms Inc (-2.953%), and Amazon.com Inc (-2.325%).

In conclusion, the final week of June 2024 presented mixed movements across the major indices. 

The DXY saw a minor gain of 0.02%, with significant fluctuations driven by key economic news. The Dow Jones experienced a slight loss of 0.03%, showcasing an initial bullish trend that reversed midweek. The Nasdaq also faced a small loss of 0.15%, marked by significant price swings. 

Despite these variations, the market remained relatively stable with top performers like UnitedHealth Group and MongoDB Inc making notable gains. 

As we move into July, Goatfunded traders should remain vigilant for further economic indicators that could impact market direction.