Welcome to this week’s Market Blast Fundamentals where we will look at AUDNZD, USDCAD, WTI (US Oil), EURUSD, EURAUD, and EURGBP.
We have seen USD strength over the last week and we have a lot happening this week which will affect the markets.
Tuesday we have the first presidential debate surrounded by the Consumer Confidence Index, quarterly GDP and Pending Home Sales.
Into the first day of October we have the ISM Manufacturing PMI and, of course, the Non-Farm Payrolls, all of which will give us a great idea on the strength of the US economy going into next month’s presidential elections.
We also have quarterly GDP on the British Pound, Wednesday, with key Brexit meetings occurring this week.
GBP is now consolidating against most other currencies but has opened with a gap against the Euro this morning.
The Euro is mixed, looking weaker against the USD and JPY and strong against the AUD.
This week we have 2 speeches by ECB President - Christine Lagarde - and an EU Leaders’ Summit Thursday and Friday and investors will be looking for news on more stimulus.
Canadian GDP will also be in focus with USDCAD rising on the lower price of Crude Oil affecting the Canadian Dollar along with USD strength.
We will look at the Australian Dollar tomorrow but we can see weakness now against all except the NZD.
That’s all for now. Happy trading with Valutrades and we will see you tomorrow.
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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.
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