Weekly Market Report: Monday, March 18th, 2024, to Friday, March 22nd, 2024.

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: +0.95%
  • Total pips gained of the week: Over, 90 pips were gained this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the low of 103.173 and the high of 104.496.

This week also saw a very impulsive bullish move which closed at 104.430. 

This week was packed with high-impact news releases that affected the DXY this week, which resulted in the very 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, and FOMC among others.

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

Dow Jones (US30)

  • Overall Percentage gain of the week: +1.82%
  • Total Points gained this week: a massive 706 points were gained this week.
  • Fluctuations of price during the week: With an opening price of the week on Monday at 38751.67, the DOW kicked off with an impulsive bullish momentum that was sustained till Thursday and also, a new all-time high was formed at 39944.06. However, the last trading day of the week, Friday, saw a retracement in price action.

The price action of the DOW this week was bullish.

Top three gainers this week: Boeing Co (+0.613%), Apple Inc (+0.531%), and Amazon.com Inc (+0.404%).

Three Biggest losses this week: Nike Inc (-6.903%), Visa Inc (-2.449%), and Caterpillar Inc (-1.769%).

Nasdaq (NAS100)

  • Overall Percentage gain of the week: +2.82%
  • Total Points gained this week: a colossal 502 points were gained this week in total.
  • Fluctuations of price during the week: The Nasdaq gapped up and opened at 17831.36 and began with an impulsive bullish move this week. However, this bullish movement was sustained till Thursday were the week’s high was formed and a new all-time high at 18474.30. The Nasdaq also saw a pullback on Friday's movement. Price then closed at 18333.54 for the week.

The Nasdaq showed a unidirectional bullish movement this week in contrast to the previous week’s bearish close.

Top three Gainers this week: NVIDIA Corp (+3.121%), Constellation Energy Corp (+2.36%), and Alphabet Class A (+2.148%).

Three Biggest losses for the week: Lululemon Athletica Inc (-15.799%), Warner Bros Discovery Inc (-3.211%), and Atlassian Corp (-2.398%).

Overall, the DXY exhibited a bullish trend fueled by impactful news releases, closing with significant gains. Similarly, the Dow Jones experienced impressive growth, hitting new highs before a slight retracement on Friday. Notably, the Nasdaq surged, reaching record levels amidst a consistent bullish trajectory. While certain stocks experienced losses, the overall sentiment remained positive.

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