“Forex markets maintained their dominance on Capital CFDs trading books with the majority of our traders taking advantage of the strength in the Aussie dollar, as it gained around 500 pips in the month. Local traders were gifted with rising index markets with Wall Street and the Australia 200 Index performing well. Gold was volatile but was relatively flat overall”. Said Ashley Jessen, Head Sales Trader at Capital CFDs http://www.capitalcfds.com.au
“28% of all trades were conducted on the Aussie Dollar with the second most active being the Euro dollar with only 14% of all trades. Despite the Australia 200 Index hitting new recent highs it only came in 4th with 8% of activity compared to Gold with 12%, coming in third. Wall Street was the 5th most active market with 5% of trades.” Ashley said.
Below is a breakdown of the top 5 most traded products in July and the % of volume
• AUD/USD 28%
• EUR/USD 14%
• Gold CFD 12%
• Australia 200 Index CFD 8%
• Wall Street CFD 5%
“Moving forward, the focus for Capital CFD traders is to ride the momentum in the Aussie Dollar and closely monitor the bounce in the Euro as it rebounds from its 1.2000 lows. Indices have all recently hit fresh highs and it is interesting to note that only 42% of Australia’s top 200 stocks are above their long term moving average versus 57% of the Nasdaq 100, 63% of the S&P500 and 74% of the FTSE 100. If the Aussie market finds strength across the resource sector, then our SPI will likely move much higher and fast.”
“Short term traders should be looking for breakouts among local stocks as many stocks are now hitting fresh new highs. It would be wise to keep an eye on Crude oil as it continues to build on its recent move higher but those following the Gold and Silver markets will likely see more volatility as it tightens into its current narrow range.” Said Ashley Jessen.
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.