- Social Trading
- Offering
- Resources
- Company
- About Us
- Help & Support
- Partnerships
NAGA Weekly Recap October 21 - 2024 – October 25 - 2024
25 October 2024
256 views
Share the article:
Maxim Bohdan
October wraps up with significant market developments. Tesla’s impressive 22% stock surge leads the headlines, fueled by strong Q3 profits. From major shifts in central bank policies to commodities and Forex market movements, these updates are shaping the final quarter of the year.
Dive in to explore the latest trends!
Top Leader 🏆 | Highest Growth 📈 |
ANTOFERLITO.TRADER has maintained the top spot on the leaderboard, achieving $32,338 in profits. This week, he focused primarily on major indices, with most trades in $NAS100, followed by $US30 and $GER30, highlighting his attentive approach to market trends. Most traded assets: $NAS100, $XAUUSD. With this consistent record, ANTOFERLITO.TRADER continues to demonstrate a measured and strategic approach to his trades. His steady climb reflects a strong foundation in trading practices, and we’ll be watching closely to see how he builds on this performance. | QuantumScape Corporation’s stock shot up 25% in the past week, even outpacing Tesla's recent gains. The company announced big steps forward with its solid-state battery, including successful production of B-sample cells aimed at automotive testing. These cells, part of QuantumScape’s upcoming commercial product line, offer high energy density and fast charging, which are crucial for the EV market. QuantumScape’s plans to scale production by 2025, despite recent expenses, have further boosted investor confidence in their future growth. |
*It is important to remember to assess your financial situation and risk tolerance, before engaging in copy trading. Past performance and forecast are not reliable indicators of future results.
BOJ Expected to Signal Less Dovish Stance as US Recession Concerns Fade
The Bank of Japan (BOJ) is likely to maintain its ultra-low interest rates while hinting at a less dovish policy outlook, as fears of a US recession subside. This move aims to prevent excessive yen depreciation by discouraging speculators.
Although the BOJ ended its decade-long stimulus in March and hinted at gradual rate hikes, it had to soften its approach following a July hike that caused market turbulence.
Trading involves significant risk of loss.
Tesla Shares Surge 22% Following Strong Q3 Profits
Tesla’s stock ($TSLA) soared by 22% — marking one of its best performances in recent years — after reporting a significant profit increase for Q3. The company anticipates up to 30% growth in car sales next year with plans to launch new models.
Tesla revealed it earned $2.2 billion from July to September, up from $1.9 billion in the same period last year. Revenue reached $25.2 billion, compared to $23.4 billion the previous year. However, Tesla cautioned investors to expect only “modest growth” in vehicle deliveries this year.
Trading involves significant risk of loss.
Gold Price Shows Downward Trend Near $2,725 Amid Market Pressure
Gold prices ($XAUUSD) maintain their upward momentum, consolidating within a familiar range after reaching a new high of $2,759. The market outlook is influenced by expectations of a milder Fed policy shift and concerns surrounding the US presidential elections, coupled with ongoing geopolitical tensions in the Middle East.
Additionally, US corporate earnings reports are impacting risk sentiment, affecting both the safe-haven appeal of the US Dollar and Gold prices.
Trading involves significant risk of loss.
GBP/USD Climbs Despite Disappointing UK PMI Data
The $GBPUSD pair recovers ground, trading above 1.2950 as it faces volatility amid UK economic reports. Despite the latest PMI figures showing a decline to 51.7 in October from 52.6 in September, the pair remains supported. The US Dollar's strength and rising US Treasury yields continue to weigh on the pound, but sentiment could shift if risk appetite improves later.
Trading involves significant risk of loss.
This concludes our weekly recap. Have a great weekend and see you next week! 👋
IMPORTANT NOTICE: Any news, opinions, research, analyses, prices or other information contained in this article are provided as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. Past performance is not an indication of possible future performance. Any action you take upon the information in this article is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this article.
RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail client investors 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.
Related articles
Need Help? Visit our Help Section
Download NAGA Trader
Markets
Platforms
Pricing & Terms
Company
Documentation
Partnerships
Help & Support
Social Trading
Free Education
News & Analysis
Download NAGA Trader
Copyright © 2024 – All rights reserved.
NAGA is a trademark of The NAGA Group AG, a German based FinTech company publicly listed on the Frankfurt Stock Exchange | WKN: A161NR | ISIN: DE000A161NR7.
The website is operated by NAGA Capital Ltd which is authorised and regulated by the Financial Services Authority Seychelles (FSA) under licence No. SD026. The registered address of CT House, Office 9A, 2nd Floor, Providence, Mahe, Seychelles. Tel: +248 4373121
The group also includes NAGA Global (CY) Ltd, with registered address at Nikokreontos 2, NICE DREAM, 6th floor, Flat/Office 601, 1066, Nicosia, Cyprus. NAGA Global (CY) Ltd is wholly owned by The NAGA Group AG.
RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money. This is not investment advice. Trading with NAGA Trader by following and/or copying or replicating the trades of other traders involves high levels of risks, even when following and/or copying or replicating the Lead Traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Before making an investment decision, you should rely on your own assessment of the person making the trading decisions and the terms of all the legal documentation.
Restricted countries: NAGA Capital Ltd does not provide services for the residents of certain countries, such as Afghanistan, Albania, American Samoa, Anguilla, Australia, Austria, Barbados, Belarus, Belgium, Bermuda, British Indian Ocean Territory, Bulgaria, Burkina Faso, Canada, Cayman Islands, Central African Republic, Christmas Island, Cocos (Keeling) Islands, Congo, The Democratic Republic of the, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Falkland Islands (Malvinas), Finland, France, Germany, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Islamic Republic of, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Korea, Democratic People's Republic of, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Palestinian Territory, Occupied, Pitcairn, Poland, Portugal, Romania, Russian Federation, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, Ukraine, United Kingdom and any other countries where the citizens have British proof of identity (i.e. British Virgin Island, Gibraltar, Isle of Man etc.), United States, U.S. Minor Islands, Vanuatu, Virgin Islands, British, Virgin Islands, U.S., Yemen, and Zimbabwe.