Sharechat Logo

CFD Report: Top five for this week

Friday 27th June 2008

Text too small?

What are CFD traders buying and selling this week? We asked local CFD provider, CMC Markets NZ Ltd what is happening in the market.

Mark Bringans, CFD & FX Business Development Manager NZ of CMC Markets NZ compiled this report for ShareChat on 27th June. Mark's provided us with a list of the five most popular CFD trades on turnover for NZ clients of CMC Markets.

If you'd like more information on CFD trading, visit the ShareChat CFD Centre here.

Ranking

CFD

LONG/SHORT

Reason

 

No. 1

 

 

US Crude Oil Aug 08

 

Long

 

New high reached at $140.36. Choppy trading in a $132-140 range, but then OPEC lumped in with a $170 forecast plus �driving season� in the USA to impact in July/August

 

No. 2

 

 

 

New Zealand Oil & Gas (NZO)

 

Long

 

One way traffic as traders add to longs. Grinding its way higher. Sellers not seen until $2.00

 

No. 3

 

 

 

Fortescue Metals Group (FMG)

 

Long

 

Asian clients like this stock as well for obvious reasons. Touched $13 this week. Buyers on dips below $11. Andrew �Twiggy� Forrest wealth breaks above A$12B (he owns 36% of FMG, market cap 34.0B)

 

No. 4

 

 

 

BHP Billiton Limited (BHP)

 

Short

 

Sellers of any rally toward $45. Despite metals strength, traders are not convinced & have their eyes on a break below $40

 

No. 5

 

 

 

NZDUSD Spot

 

Short

 

Traders think fair-value may have lifted to 0.7200. Mid-winter in NZ is always nervy for the Kiwi. Look for a test of �fair-value� over the next month

Disclosure statement - Mark Bringans, CFD & FX Business Development Manager NZ of CMC Markets NZ

ShareChat has provided this CFD information and the CFD section as general information, not professional investment advice.
Please note that these are NOT buy or sell recommendations.
Derivatives may not be suitable for all investors/traders; so ensure you fully understand the risks involved, and seek independent advice if necessary.


Click here
for more information on CMC Markets NZ Ltd

 

 



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto