Weekly Bulletin
Sky Option
Specialists in customizable CRMs, Gold Platforms, & Forex Portals, driving growth for brokers in crypto, metals & more
Welcome to the Sky Option’s Weekly Bulletin, your go-to source for a concise overview of the latest market activities in the stock trading services industry.?
Join us as we dive into the significant developments and trends that shaped the past week, providing you with valuable insights to navigate the dynamic world of stock trading.
Government to Consider Application of the Common Law for Free Zones
Dubai plans to implement Common Law in its Free Zones to create a business-friendly environment and improve economic efficiency. This initiative aligns with the Dubai Economic Agenda D33, which aims to boost the city's economy and enhance its competitiveness through 100 transformative projects.?
With a target of achieving AED 32 trillion in economic growth over the next 10 years, Dubai is determined to solidify its position as one of the world's top three cities and establish strong trade partnerships with 400 cities.
UAE Gold Price Movements
Here’s the gold price history for the past week.
Changes in Key Indicators of the Forex Market
Various key indicators highly influence the global financial markets. The US unemployment rate and the nonfarm payroll are among the top market indicators. Both are published on the first Friday of each month and here are June’s primary highlights.?
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US Unemployment Rate Change
A higher rate is considered negative or bearish, and a lower rate impacts the market positively.?
As of 4th August 2023, the US unemployment rate was declared at 3.5% for June 2023, which is lower than the forecast rate of 3.6%, meaning it will have a bullish effect on the forex and gold markets.?
US Nonfarm Payroll Changes
The nonfarm payroll is the difference between the number of people employed in previous months except for the farming industry. It is one of the significant economic activity indicators affecting currency rates and gold prices.
A higher number indicates a positive/bullish impact, while a lower number than the expected number indicates a negative impact.
As of 4th August 2023, the US nonfarm payroll was 187K, lower than the forecast 200K number indicating a bearish impact on the market.
Weekly Gainers and Losers (DFM)
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