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Crude Edging Higher. New Zealand Interest Rate this Week.

   

Welcome to this week’s Market Blast Fundamentals where we will look at USDJPY, GBPUSD, USDMXN, NZDUSD, and WTI (US Oil).

 

Again we see both Brent Crude and WTI moving higher with more global economic activity, including air travel, in view.Screenshot 2020-06-22 at 09.40.29

Price is still trying to fill the gap from early March and we can see a key level at $50.

We see an identical situation, of course, on Brent Crude with the key level above of $57.Screenshot 2020-06-22 at 09.40.52

The NZD has been falling all month except against the Euro but watch out Wednesday for an Interest Rate decision where we expect the rates to remain the same, however we may hear news about future cuts during the following statement, which will cause volatility.

The Bank of Mexico will also be announcing its Interest Rate decision.

The Peso was recovering this month but has slipped recently and we will look at this again tomorrow.Screenshot 2020-06-22 at 09.41.14

The UK Pound Sterling is weaker in general as the UK and the EU agreed not to extend the Brexit deadline.

We expect negotiations to intensify in July and we will review this next week.

Gold opened higher based on new Coronavirus fears so watch for any new news on this from the major economies.

There is lots of US Economic news this week with New Home Sales, Existing Home Sales, GDP and Core Durable Goods Orders.

The USD is stronger against most counterparts except the Yen and, next week we will look at the upcoming US Elections.

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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