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. The biggest story coming out of last week was the Trump administration’s sudden decision to issue an additional set of tariffs against Mexico. This decision saw the dollar immediately drop in spending power and created additional uncertainty for many of the US’s top trading partners.
This week, speculators are eagerly awaiting the release of the non-farm payroll in addition to several other beginning-of-the-month reports. North of the border, the Canadian Dollar has been down, largely due to drops in crude oil prices.
The outcomes of the European elections had a much smaller effect than initially predicted, resulting in a relatively level week for the Euro. The Pound still remained down, following more concerns about Brexit. This week, traders will be keeping a close eye on a major speech from the Bank of England.
As the economies of Europe and North America floundered, the yen remained as of last week’s top performer. With Japan’s economy looking stable and few announcements on the horizon, you can expect the yen to likely remain ahead of its competition. 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
For a detailed investment strategy on USD/CAD and other pairs, visit your membership area on the PIG.
Crypto Market Overview
Next is the crypto market. Following a positive close out to the weekend, Bitcoin began this week on a negative note, dropping in value to around $8,500. Despite this drop, May was still an incredibly positive week for Bitcoin, which increased in value by nearly 50 percent.
As the world’s leading coin, many of Bitcoin’s movements were reflected by its competitors. However, there is also concern that many of this year’s hottest coins have begun to “exhaust” themselves. Though there are few signs that market has taken a permanently bearish direction, June will likely be a less fruitful month for the crypto market as a whole.
Bitcoin SV—a member of a long series of Bitcoin “spin-offs”—posted the best total growth figures of all the major coins in May, which has attracted the attention of many top investors. However, as I mentioned in my Tweet on Monday, I’m not convinced you should be hodling BSV.
#BitcoinSV $BSV approaches all-time-high level once again with a 16% jump, securing its spot as the 8th largest #cryptocurrency by market cap. I’m still not convinced this is a #crypto to HODL… At best, and if the resistance holds, it could be a range-trading opportunity pic.twitter.com/F0sgqMCQKy
— Kiana Danial (@KianaDanial) June 3, 2019
Other key performers to watch this month include Chainlink, Bitcoin Gold, and Dent.
Last week, the SEC announced the possibility of offering relief for select ICOs, which may reduce the overall risk of entering into the industry. Japan, on the other hand, seems to be moving in the opposite direction, issuing several high-cost rules for crypto firms. 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 but not least is the stock market. As we saw with the forex market, the biggest story coming out of the stock market last week was Trump’s new tariffs imposed against Mexico. Following the announcement of these tariffs, the stock market began a multi-day decline. Since last Tuesday, the Dow has dropped around 800 points.
The stock market opened this week with even more complications, with anti-trust measures hurting Google, Facebook, Apple, and other major firms. As markets continue to sort themselves out and additional cases are taken to trial, expect to see above-average volatility from the tech giants.
We’ll pay close attention to the SEC’s anti-trust actions, as well as the development of retaliatory tariffs from Mexico. Other developing stories to pay attention to include the potential merging of Fiat-Chrysler and Renault, and moving oil prices as we approach the peak travel season.
Even in times of economic uncertainty, there will still be plenty of great opportunities for investments—I’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.
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.