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 |
No comments yet
Kiwi Property FY24 annual results announcement date
MFB - FY24 Results Announcement Date and Briefing Details
AIA - Announces books closed for retail bond offer
May 8th Morning Report
NZ-UAE free trade on the table
ANZ - 2024 Half Year Results Documents
FWL - Foley Wines Limited 2024 Harvest
IKE Closes Major Multi-Year Subscription Deals
AIA - 2024 Macquarie Australia Conference Overview of AIA
Devon Funds Morning Note - 06 May 2024