Risk Warning: CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage.
Approximately 80% of retail client accounts lose money when trading in CFDs and spread bets.
You should consider whether you understand how CFDs and spread bets work and whether you can afford to take the high risk of losing your money.

The Desk

Market Intelligence, analysis and tools from the Lunaro trading team.

Today's Calendar

00:00 GMT

National People's Congress Standing Committee

Medium Impact

06:00 GMT

GfK Consumer Confidence

High Impact

10:00 GMT

CBI Distributive Trades

Medium Impact

Desk Notes

Short reads 3–5 min

Market Volatility, Mixed Signals, and Cautious Outlook

Global markets opened on a cautious note today as investors weighed a mix of geopolitical uncertainty and uneven…

Lunaro Trading team

Hormuz Seizures, Stalled Talks, and Divided PMIs

23 April 2026 The relief that Wednesday’s ceasefire extension had briefly provided has been erased. Iran’s Revolutionary Guard…

Lunaro Trading team

Market Intelligence Brief: Ceasefire Extended, Vance’s Trip Suspended, and UK Inflation Hits 3.3%

April 22, 2026 – Trump has extended the Iran ceasefire overnight, liftingfutures off Tuesday’s lows. Vance’s trip to…

Lunaro Trading team

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Desk Briefings

Structured analysis 10–20 min

The real cost of a CFD trade: spread, commission, swap and slippage

Most traders who assess a CFD or Futures trade focus on the entry and the exit price. The difference between…

Joshua Owen • 13 min Read →

Correlation and Portfolio Risk in Multi-Asset Trading

A trader with five open positions is not necessarily running five independent risks. Depending on how those positions are constructed,…

Joshua Owen • 14 min Read →

Overnight Financing and Its Impact on Profitability

There is a cost in CFD trading that does not announce itself at the moment of entry. It does not…

Joshua Owen • 12 min Read →

Trading Craft

Position Sizing and Long-Term Trading Outcomes

Two traders run the same strategy across the same instruments over the same twelve months. They use identical entry criteria.…

Joshua Owen • 14 min Read →

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Desk Tools

Practical Utilities

Futures expiration calendar

Futures expiration calendar

Quarterly and monthly expiry dates across equity index, FX, energy and rates futures.

Trading glossary

Trading glossary

Every term used across The Desk, defined
precisely. Linked from articals where terms first appear.