This Week In Forex, Crypto, And Stocks – June 11, 2019

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This Week In Forex, Crypto, And Stocks – June 11, 2019

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Hi investors! Here’s your 5-minute overview of the forex, crypto, and stock markets with hot stories that may have an impact on your investment strategy.

Forex Market Overview

Let’s start with the Forex Market.  Last week was a bit of a disappointment for those holding onto an American Dollar that was weighed down by trade tensions and an increasingly negative outlook from the Fed. The Fed’s recent interest in cutting interest rates is now an ongoing cause for concern.

While the American Dollar floundered, the Canadian Dollar was able to perform above investor expectations. The New Zealand Dollar was also able to do surprisingly well, largely due to the fact that many of the larger currencies have been struggling.

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In Europe, the Pound experienced yet another disappointing performance, hurt by further Brexit uncertainties and a series of disappointing financial reports. On the mainland, the Euro performed marginally better, though the continental currency still had its fair share of ups and downs.

The Yen is yet another currency that has been down and with few Japanese reports on the horizon, it will likely remain down this week as well. The biggest reports to watch this week include American CPI numbers and retail sales figures.  If you’re new to forex trading, my book, Invest Divas Guide to Making Money in Forex is the best place to start.

Taking a Closer Look at USD/JPY

On the charts, the USD/JPY pair appears to have completed a double top chart pattern on and attempting to bottom out at 108. On the 4-hour time frame, it is testing the lower band of the Ichimoku Cloud with the Tenkan line crossing about the Kijun line.

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Crypto Market Overview

Next is the crypto market. Bitcoin began last week with a bit of a slide, dropping in value from a 2019 peak around $8,800 to a June floor around $7,500. However, things are starting to look up again for the world’s largest cryptocurrency, who opened this week with a $300 rebound.

Holders of Litecoin were greeted with good news to start this week as the coin broke the $125 mark and reached its highest price in over a year. Other alt-coins also opened this week with a rally, suggesting that the crypto industry as a whole may be experiencing a fundamental change in value.

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Interest in blockchain technology from Target and other major retails may help fuel the mid-year bullish market. Another development to keep an eye on is the introduction of Bitwage—a new crypto payroll technology that allows employees to be paid in Ether. If you’re wondering how you can take your crypto investing to the next level, don’t forget to get your free copy of my new book, Cryptocurrency Investing For Dummies

Stock Market Overview

Last week was a good week for most major indexes in the United States, including the S&P 500, which increased in value by nearly 150 points. However, this unexpected rally was mostly caused by negative signals coming from the Federal Reserve, prompting a shift away from the American Dollar.

Despite last week’s rallies, many major investors have a pessimistic future outlook. Citigroup opened the week predicting a “full-scale bear market”, a forecast that has been reflected by many others in the industry. Even as an end to trade disputes may stimulate markets for a short amount of time, investor sentiment continues to fall.

Here’s my latest Tweet on what NOT to do during uncertain times; Don’t let FOMO (fear of missing out) be your investment strategy.

Stocks To Watch…

As talks between a Fiat-Chrysler and Renault fell apart last week, talks of a merger between Raytheon and United Technologies attracted interest around the world. If approved, the merger would result in one of the aerospace conglomerations ever formed.

Elsewhere in the merger market, T Mobile and Sprint are taking steps towards consolidating, though there is still a lot more work that needs to be done. Other companies to an eye on this week include Facebook and Google, who are becoming increasingly vulnerable for trust-busting.

We’ll be keeping an eye on falling oil prices as well. That does it for this week’s newsI’ll be sharing my personal investment strategies for forex, stocks, and cryptocurrency in Invest Diva’s Premium Investing Group, also known as the PIG. Register for the Make Your Money Work For you MasterClass to see how you can get in the PIG.

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This brings me back to you. Which markets you’ll be focusing on this week and why? After you subscribed, head over to the comment section, give me a shoutout and let me know.

Remember that as the 4th point of the IDDA technique, you must calculate your risk tolerance before deciding on the investment strategy that is suitable for your portfolio. Don’t forget to complete your risk management due-diligence before developing your investment strategy.