"During the month of May, Capital CFD traders had a mixed month with a number of traders taking advantage of excellent downtrending markets across nearly every commodity, numerous Forex pairs, worldwide indices and share CFDs. Looking back over May, it was hard to find any positive markets" said Ashley Jessen, Head Sales Trader at Capital CFDs http://www.capitalcfds.com.au
"35% of trades in May targeted the AUD/USD with 16% taking advantage of the Wall Street CFD contract. Unusually, given its overall popularity, the EUR/USD came in 3rd with 14% of all our monthly volume. Other notables were Gold and the Dax 30 Index with 11 and 9 percent respectively."
Below is a breakdown of the top 5 most traded products in May and the % of volume
• AUD/USD 33% – 1 pip fixed 24 hours a day
• Wall Street CFD 16%
• EUR/USD 14% - 1 pip fixed 24 hours a day
• Gold CFD 11%
• Dax 30 CFD 9%
"Moving forward, the focus for Capital CFD traders is to digest news out of Europe and take into account the health of the global economy. Navigating the markets will favour the nimble trader with a strong understanding of key support and resistance levels. Key levels are getting broken to the downside and markets are going to present the most opportunity at the extreme levels. Momentum plays are going to be key and markets will favour the short term swing trader and those hunting for breakouts" said Ashley.
"With the Aussie SPI index showing considerable overbought levels, we are looking for a spurt to the upside if and when commodities like Copper, and Crude Oil show strength as well as confidence returning to the banking stocks."
For more information on the Capital CFDs and to take advantage of their fixed Forex spreads, visit their website at http://www.capitalcfds.com.au
Capital CFDs is a trading name of London Capital Group Pty Limited and is fully owned by London Capital Group Holdings Plc which is listed on the London Stock Exchange. London Capital Group transacts over 30,000 trades each day and has over 70,000 clients globally. Capital CFDs is regulated by ASIC under AFSL 364264
While Capital CFDs attempts to ensure that the information herein is accurate at the date the information was produced, however, Capital CFDs does not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the information provided herein and under no circumstances are they to be considered an offer, solicitation to invest or be construed as giving investment advice.