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.

Recap: USD Climbs After GDP Surprise, JPY Volatility BoJ & MORE | Trade Zone with Joe Jeffriess

Published: 28.07.2023
by Joseph Jeffriess

Thanks for checking out this week’s wrap-up. In this episode:

USD – A fightback risk for USD, ending the week weaker with gold.

JPY – Lots of action from the JPY this Friday.

The Fed and ECB hike rates – Interest rates continue to rise, but statements fail to generate volatility.

US GDP – Data came in above expectations, fitting in with the Fed’s comments. The result? A firm boost for USD, while the Dow’s run was halted for now.

Bank of Japan – Japan’s central bank set off some fireworks with its comments, sparking volatility for JPY.

PCE index – Another inflationary data piece, with next week’s NFB another potential booster for the USD if it comes in hotter. Worries have started and could continue if data continues to support a hotter-than-expected economy, increasing the possibility of further rate rises.

This week’s recap analysis

* 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.