CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.09% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

76.09% of retail investor accounts lose money when trading CFDs with this provider.

Debt Agreement, Risk Rally, NFP to Make or Break the Party? | Weekly Market Wrap with Joe Jeffriess

Published: 02.06.2023
by Joseph Jeffriess

Welcome to this week’s wrap-up. Unsurprisingly, the U.S. debt ceiling agreement took center stage as the primary concern in the market. Throughout the week, the bill made its way through the legislative process and ultimately passed, triggering notable reactions in risk markets from Thursday through to today.

As normal, I don’t think anyone truly thought the U.S. would default, but it is great that the bill has finally cleared, and this factor has been put to bed. EU and AU CPI data came in mixed during the week and added to the mix for the AUD and EUR.

Safe havens had a few decent pushes this week before the deal went through, and we saw risk markets run back into favour. Fed member comments still sound mixed on the U.S. Inflation situation, but hints remain we could see a hold in June. What will today’s NFP bring to the table? Hotter data could worry traders, but how hot is too hot? On the other hand, if we see weaker figures, is this a sure bet to keep the risk run going?

Weekly Wrap Video

We also have rate decisions from the RBA and BOC, and both banks are expected to hold rates steady.

* The information provided on this page are the opinions of the author and do not necessarily reflect the opinions of Eightcap and are not endorsed by Eightcap.

Any person acting on the information presented on this page does so entirely at their own risk. No representation or warranty is given as to the accuracy or completeness of this information. Any research provided does not have regard to any specific investment objectives, financial situation and needs of any specific person who may receive it.

Margin trading involves a high level of risk and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary.