In this weekly analysis, we are going to discuss the following markets

• Indices – S&P, Nasdaq, FTSE 100, DAX, DJI 
• Cryptos – BTC, ETH, BNB, XRP, ADA 
• Commodities – Gold, Silver
• Forex majors – EURUSD, GBPUSD, USDJPY

Indices market weekly review for 12-16 June 2023

All major indices experienced modest gains this week, with Nasdaq leading the pack and S&P 500 reaching a 13-month high.

The main reason behind this movement is unchanged interest rates which enabled Nasdaq-listed stock companies to borrow money from banks with the same interest rates and eased the pressure. S&P 500 rising by 2.7% suggests the overall stock market trend is bullish caused by unchanged interest rates.  

As for DJI the index broke out of the previous resistance zone and traders went bullish making its 1.47% rise justifiable. The macroeconomic drive behind DJI’s rise is clear, inflation was down which made its breakout of the 34300 level inevitable. 

The German and Eurozone CPI was lower than previous numbers, with German CPI at -0.1% from the previous 0.4% and Eurozone CPI at 6.1% from the previous 7%, and contributed to DAX’s 1.58% rise, overall similar to the US economy the 

Eurozone was stable and bullish last week. Eurozone interest rates were increased to 4.0% which was correctly predicted by experts and did not have much surprising impact on prices. 

The FTSE showed the London stock exchange was not as firm as its European and US counterparts as it rose mildly with just 0.48%. It was mainly caused by defensive stocks in utilities and healthcare leading the way upwards due to high oil prices. Defensive and utilities stocks are more resilient when oil prices go higher and investors might find this sector relatively safe. The industrial metal miners rose 2.1% as base metal prices appreciated which contributed to FTSE 100 slight performance gains. 

Indices technical weekly performance numbers

If we summarize the overall growth in the indices market is noticeable and increases the solidity of the market. 

Crypto market weekly review for 12-16 June 2023

The US Securities and Exchange Commission’s lawsuit against Binance US and its founder Changpeng Zhao (CZ) adds to the bloodbath cryptos had been experiencing lately. The SEC has also filed a lawsuit against Coinbase. 

SSince the SEC recognizes most cryptos as securities and is not shy of filing lawsuits against them, the markets are experiencing bearish sentiment. When bad times hit, crypto holders prefer to exchange high-volatility altcoins for Bitcoins, explaining the lower impact on BTC price. 

BNB is used by Binance for all transactions on its blockchain and since many people were transferring and exchanging altcoins for BTC it did not take much hit, as there was still high demand for Binance’s BNB. 

The battle between XRP and SEC has been going on for some time now which was reflected in the price of a coin. The SEC weaponized the lack of regulatory framework in the US enabling the organization to file several lawsuits against crypto projects. 

Besides BTC and BNB ADA had also a lower price decline of -3.9%. SEC recognizes ADA as a security as well adding to the pressure. As for ETH price the second crypto is in a bearish market lately which is caused by its delayed updates and bearish overall sentiment on the crypto market. 

Crypto technicals weekly performance numbers

Commodities market overview for 12-16 June 2023

Gold was solid because of real interest rates, which are interest rates adjusted for inflation. Lower real interest rates make investors less likely to invest in bonds and more likely to invest in gold. 

Since the USD was weaker last week due to the reasons explained below, Gold did not take as much damage as silver. Fed’s more hawkish stance than anticipated made silver tank some losses. The Fed maintained interest rates at 5.25%. 

Since the dollar was somewhat stable with unchanged interest rates, it increased downward pressure on the silver and it was reflected in -1.27 gains. 

Commodities technicals weekly performance numbers

Forex market weekly in-depth overview for 12-16 June 2023

The gains in the currency markets were caused by positive economic data, stable central bank decisions, and general market sentiment. USD Core Retail Sales met expectations suggesting a steady retail sector. 

But USD PPI came weaker than expected at -0.3% weakening the US dollar against other currencies. The same reasons making the DAX rise also made EUR stronger and it was reflected in EURUSD price gains of almost 1.8%. 

The UK’s GDP showed 0.2% growth showing positive economic performance for the UK, explaining the GBPUSD gains. 

Overall the Eurozone was stable with the EURO Deposit Facility Rate and ECB interest rate decision remaining in line with the forecast of 3.5% and 4% respectively. 

Forex technicals weekly performance numbers

Performance Comparison Chart of $1000 investment

If you were to invest $1000 in each of the sectors discussed above, how much money would you make or lose last week? 

We are going to take the winning asset from each sector and compare its performance with the two flagship automated trading systems from Elite CurrenSea. Elite CurrenSea offers a wide range of trading systems and portfolio management solutions and Athena EA and Portfolio Flagship are its current bestsellers. These robots have been tested on real markets. 

Athena EA has shown positive gains last week with average daily returns of 0.24% or 1.2% weekly. On a $1000 investment, this would be $12.

The above picture shows the real returns that are verified on the Myfxbook platform on a live account.

Another bestselling system from Elite CurrenSea is called Portfolio Flagship and is a solid performer with 2.1% gains in 5 days.

Let’s see the $1000 investment potential results for the past week.

As we can see, on the 1st place are indices with 3.4% returns, Portfolio Flagship, and Athena EA are on the 2nd, and 3rd places.

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Team of Elite CurrenSea

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Risk/Reward:

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Historical Drawdown:

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Min. Deposit:

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Asset Types:

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