CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
About Our Global Companies
Valutrades_LogoSpot
Valutrades_SYLogoSpot

Company

Valutrades Limited - a company incorporated in England with company number 07939901. View more information here.
Valutrades (Seychelles) Limited - a company incorporated in the Seychelles with company number 8423648-1.

Regulation

Regulated by the FCA (Fincancial Conduct Authority). Financial Services Register Number 586541.
Regulated by the FSA (Financial Services Authority). Regulatory Number SD028.

Max Leverage

30:1 (or up to 500:1 for Professional clients, click here to find out more about professional client status)
Up to 500:1

Country

United Kingdom
Seychelles

Negative Balance Protection

Yes
Yes

Back to Blog

Another Brexit Deadline. A50 Jumps.

   

Welcome to this week’s Market Blast Fundamentals where we will look at EURUSD, EURGBP, China A50, and USDCNH.

 

We have been following the strength of Renminbi this year and finally the Chinese PBOC has removed restrictions on shorting the currency.

USDCNH opened higher with a gap this morning but the Yuan is still growing stronger.Screenshot 2020-10-12 at 10.48.24

Looking at the daily chart we can see this bull run which started at the end of May.Screenshot 2020-10-12 at 10.48.32

This has also caused the China A50 stock index to break out of consolidation and head for resistance from August.

Another Brexit deadline is approaching this week and we have seen GBP strength returning over the last couple of weeks.

Nobody expects a deal to be completed so we will keep an eye on EURGBP.

As well, watch for lots of Economic News affecting this currency pair with the Bank of England Governor speaking today and tomorrow with UK Employment Claim data due tomorrow.

ECB President Christine Lagarde will be speaking 3 times this week, we have German Economic Sentiment tomorrow, and an EU Leaders Summit Thursday and Friday, so watch for volatility.Screenshot 2020-10-12 at 10.48.47

As far as news affecting the US Dollar, we only see Retail Sales Thursday but, of course, with the US Presidential election 3 weeks away we see continuing USD weakness based on the polling numbers showing Joe Biden leading.

However, we all know that anything can happen as we have seen many “October Surprises” throughout American history.

That’s all for now.  Happy trading with Valutrades and we will see you tomorrow.

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

Comments