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Brexit: No-Deal a Possibility. ECB Interest Rate Decision.

   

Welcome to this week’s Market Blast Fundamentals where we will look at the VIX, the S&P 500 (US500), EURUSD, EURCAD, GBPUSD, and EURGBP.

 

The Pound opened lower this morning and is back in focus with 4 1/2 years of Brexit negotiations coming to a head this week.Screenshot 2020-12-07 at 11.13.44

Keep an eye on the news as the possibility of a No-Deal Brexit will drive GBP lower and, if a deal is to be had, the 27 European countries will have to approve the deal so expect volatility with EURGBP.

Also, these same 27 European countries need to approve the budget for the next 6 years which includes a €750 Billion Coronavirus recovery fund, so watch for volatility on all the EUR pairs this week.Screenshot 2020-12-07 at 11.13.55

We have seen EUR strength lately except against the Swiss franc and the Canadian Dollar.

Both the United Kingdom and the European Union have important items on the agenda this week with Manufacturing Production data and GDP from London on Thursday and German Sentiment with European Employment Change and GDP tomorrow, the EU Leaders Summit Thursday and Friday and the European Central Bank Interest Rate decision Thursday.Screenshot 2020-12-07 at 11.14.21

The USD is continuing weaker and we expect the latest stimulus package to be approved this week.Screenshot 2020-12-07 at 11.14.12

This will help the US Indices like the S&P 500, as will more positive news on vaccines, and keep an eye on the VIX to take advantage of the volatility.

Thanks for watching and don’t forget to subscribe to our YouTube Channel and register on the Valutrades website to get notifications on new content as it happens.

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

CFDs and FX are leveraged products and your capital may be at risk.

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.

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