Weekly Market Report: Monday, May 6th, 2024, to Friday, May 10th, 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: +0.23%
• Total Pip-Loss of the week: 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 104.867 and the high of 105.742.

There was no high-impact news release at the beginning of the week. However, price moved moderately upwards from the open at 105.076 from Monday through Wednesday and made the high of the week at 105.742. The release of high impact news on Thursday saw a sharp and impulsive reversal in price altering the overall bullish move of price this week. 

The reversal in price resulted from high-impact news, including BOE Monetary Policy Report, Official Bank Rates, BOE Gov. Bailey speaks, Unemployment claims among many others.

This week showed a moderately bullish move in contrast to last weeks' bearish move.

Dow Jones (US30)

• Overall Percentage gain of the week: +1 99%
• Total Points gained this week: a massive 771.02 points were gained
• Fluctuations of price during the week: With an opening price on Monday at 38710.32, the Dow impulsively moved upwards with all the days of the week closing bullish. This week's range for the DOW was between its lowest low at 38695.40 and the highest high at 39583.44 made on Monday and Friday respectively. The DOW then closed at 39481.34 for the week.

Fuelled by the news, the price action of the DOW this week showed a very strong bullish move upwards in continuation of last three week's bullish move.

Top three gainers this week: McDonald’s Corp (+2.631%), 3M Co (+1.644%), and Verizon Communications Inc (+1.533%).

Biggest losses this week: Nike Inc (-2.623%), Boeing Co (-1.512%), and Amazon.com Inc (-1.066%).

Nasdaq (NAS100)

• Overall Percentage gain of the week: +1.18%
• Total Points gained this week: a moderate 211 points were gained this week in total.
• Fluctuations of price during the week: With an opening price at 17932.13, the Nasdaq began with a very strong bullish move this week on Monday from where it made its low for the week at 17877.88. This strong bullish momentum was as a result of every day of the week closing bullish except Wednesday. Price made the high of the week on Friday at 18248.04 and closed for the week at 18144.12.

This week's bullish move is in continuation with the last three weeks' continuous bullish move.

Top three Gainers this week: Charter Communications Inc (+4.403%), Micron Technology Inc (+2.912%), and Datadog Inc (+2.675%).

Three Biggest losses for the week: Moderna Inc (-4.385%), PayPal Holdings Inc (-2.358%), and Tesla Inc (-2.035%).

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).

Weekly Market Report: Monday, May 6th, 2024, to Friday, May 10th, 2024.

DXY

• Overall Percentage Gain of the week: +0.23%
• Total Pip-Loss of the week: 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 104.867 and the high of 105.742.

There was no high-impact news release at the beginning of the week. However, price moved moderately upwards from the open at 105.076 from Monday through Wednesday and made the high of the week at 105.742. The release of high impact news on Thursday saw a sharp and impulsive reversal in price altering the overall bullish move of price this week. 

The reversal in price resulted from high-impact news, including BOE Monetary Policy Report, Official Bank Rates, BOE Gov. Bailey speaks, Unemployment claims among many others.

This week showed a moderately bullish move in contrast to last weeks' bearish move.

Dow Jones (US30)

• Overall Percentage gain of the week: +1 99%
• Total Points gained this week: a massive 771.02 points were gained
• Fluctuations of price during the week: With an opening price on Monday at 38710.32, the Dow impulsively moved upwards with all the days of the week closing bullish. This week's range for the DOW was between its lowest low at 38695.40 and the highest high at 39583.44 made on Monday and Friday respectively. The DOW then closed at 39481.34 for the week.

Fuelled by the news, the price action of the DOW this week showed a very strong bullish move upwards in continuation of last three week's bullish move.

Top three gainers this week: McDonald’s Corp (+2.631%), 3M Co (+1.644%), and Verizon Communications Inc (+1.533%).

Biggest losses this week: Nike Inc (-2.623%), Boeing Co (-1.512%), and Amazon.com Inc (-1.066%).

Nasdaq (NAS100)

• Overall Percentage gain of the week: +1.18%
• Total Points gained this week: a moderate 211 points were gained this week in total.
• Fluctuations of price during the week: With an opening price at 17932.13, the Nasdaq began with a very strong bullish move this week on Monday from where it made its low for the week at 17877.88. This strong bullish momentum was as a result of every day of the week closing bullish except Wednesday. Price made the high of the week on Friday at 18248.04 and closed for the week at 18144.12.

This week's bullish move is in continuation with the last three weeks' continuous bullish move.

Top three Gainers this week: Charter Communications Inc (+4.403%), Micron Technology Inc (+2.912%), and Datadog Inc (+2.675%).

Three Biggest losses for the week: Moderna Inc (-4.385%), PayPal Holdings Inc (-2.358%), and Tesla Inc (-2.035%).

In summary, the DXY saw some ups and downs, initially leaning bullish until high-impact news caused a sharp turnaround. 

Meanwhile, the Dow Jones had a remarkable bullish run, riding high on positive sentiment throughout the week. The Nasdaq also showed its resilience, maintaining a strong bullish trend despite a slight hiccup midweek. 

Notable gainers and losers added flavor to the mix, reflecting the diverse market landscape. 

Overall, it was a week of twists and turns, driven by a mix of economic indicators and geopolitical developments.