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Hello Traders,
Thanks to those of you who joined us today. I should reiterate that the Monday Market Update is just that. A big picture overview of the markets, with a few 'charts of interest' thrown in. There are no trade recommendations, this is not a signal service, nor trade recommendations - just what I am looking at and interested in.
Today we looked at; FX STAM, Bloomberg's PMI Tracker, Tesla Inc ($TSLA), The Boeing Company ($BA), Lockheed Martin Corporation ($LMT), Walt Disney Company ($DIS), and GameStop Corporation ($GME).
The market update for March 24, 2025, covered FX markets, indices, and specific stocks. Sterling led major currencies due to anti-dollar sentiment though may experience headwinds from upcoming UK economic data. Europe followed closely, boosted by political changes. The Japanese yen weakened post-BOJ meeting. The Canadian dollar remained weak, while the New Zealand dollar saw a brief relief rally which faded at the end of the week . Key indices like NASDAQ and S&P 500 showed mixed performance around the 50-period moving average. Tesla's stock faced a significant sell-off, with support around $220-$240. Boeing saw a $30 jump after winning a US Air Force contract. Disney's live-action remake underperformed, impacting its stock. Upcoming data and the UK's spring statement could influence Sterling's performance.
We also covered the usual suspects: $DJIA, $NDX, $SPY, $RTY, $DAX, $FTSE, $N225, $WTI, $XAUUSD, $XAGUSD, $BTCUSD, $USD, $DXY, $JPY, $AUD, $CHF, $NZD and $GBP.
Have a great trading week, and I’ll see you next Monday at 1230.
Trade well,
Paul
Prepare for 2025 with FREE ACCESS to the VTP Stage 1 Online Trading Course: https://bit.ly/VTPFREE
Our preferred broker is: ActivTrades
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