The top 5 CFDs traded recently this month- AUD/USD continues to become the favoured choice but the German DAX index has taken the second most popular mark with the Gold and the EUR/USD is diminishing from the second spot to the number 4. In 5th place is the consistently well known Dow Jones Index.
Trading volumes between the LCG Market’s client base were carefully studied during the month of October in order to predict the ranking of which Forex, Index and Commodity markets as to the best performer. The previous month provided few revelations with Germany’s CAX index which was catapulted to 2nd place and the EUR/USD was ousted to 4th place. The devoted choice was the AUD/USD and this first place ranking has by far remained for the entire year.
The 5th most popular product went to the Dow Jones index and strangely the Aussie 200 index didn’t quite reach the top 5 but rather placed 6th in the rank.
The month of November maintains the shape up to the most anticipated trading months of the year with the US election, declining prices in goods and ominous fiscal cliffs in the United States are among the highlights of the previous month. Several major indices were range bound and proved to be hard to specify the clarity as to the direction together with the Aussie dollar and the Euro according to the LCG Markets, Head of Sales.
In regards to the path, a noteworthy aspect regarding the past month reveals 64.5 % of traders are selling the Australian dollar on a short position which many crossed their fingers hoping for a decrease in value. In addition to this, it apparently shows many traders had gotten the fall of Gold erroneously with 72 % of traders positioning themselves for an anticipated rise in the valuable commodity. In due time, few traders will still tend to their broken ambitions and still remain positive for a rise in the short term.
Markets all around the economic sector have suffered tremendously in a global scale with unusually scant volume and have been in a consolidation stage that will burst at any moment. From a global perspective, economies have already priced in the negative end of the continuum and remain broadly optimistic for the future and for many investors who are positioning their trades to the long side appear to be very promising.