World Market Snapshot 4th March 2024

Opportunities are created in the market everyday and await traders who are prepared for such scenarios. This week the market has presented traders with 

The DAX index is still running hot, as the DE30 symbol holds around all time highs. Germany’s economy, the powerhouse of the Eurozone, is showing no sign of slowing. Other indices taking a peek at all time highs include the AUS200 and US30. 

The news of Evergrande liquidation appears to have set in some relief to the HK50 index, allowing closure to stock market investors, as the index has 3 positive weeks after bouncing off the 15000 price point. 

The EURGBP is building up off the lows at present, with 5 green candles unable to breakout high or low. Traders will be looking to trade within the recent range however they should be cautious of a breakout in either direction, but particularly for a long breakout as the market will be seeking to rebalance to a more central price point once a confirmation has appeared.

From last week’s snapshot, the CADJPY has strongly retraced to the lows of the last 2 weeks, along with the AUDNZD powering to the highs of the 2 weeks prior, both rebalancing to more normalised prices. 

Indices, as seen earlier, didn’t host such a rebalance and continued their rally higher. 

This week hosts a plethora of high impact news announcements right across the globe, so it will be important to keep an eye on the Economic Calendar if you want to be prepared for opportunities and big moves this week.

The screenshot shows only high impact announcements for this day, on a limited number of countries. Selecting more countries will have even more announcements that will be set to shift forex markets and create trading opportunities for those prepared with the data insights from the special Economic Calendar access only available to those with a live account.