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World Market Snapshot 3rd June 2024

Last week marked the end of May as we edge closer to the midpoint of 2024.

Many indices had a great fall early in the week followed by a recovery close to the open price of last Monday’s opening bell. 

USDCHF sits at the low end of an upward parabola, offering potential for longer term falls. 

NZDJPY, AUDJPY and GBPJPY continue to rise while other NZD crosses are at moderate pricing positions with unnoteworthy points to start off this week. 

Minimal movement on Bitcoin (BTCUSD) with rather unremarkable price movements to note for this week’s market update.

This lack of excitement in the market to start this week could be partly due to a large array of high impact news announcements that are pending this week. Rather than pricing being in a highly convicted position long or short, the market is awaiting these big news announcements before proceeding in a particular direction. 

This week’s tip, watch the high impact news on the FXT Economic Calendar closely and be sure to check out this article 5 Epic Ways to Get Massive Trades Using the FXT Economic Calendar.