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Crude Oil Contract Expiry. BREXIT Returns.


Welcome to this week’s Market Blast Fundamentals where we will look at the GBPUSD, Gold (XAUUSD) DJI (US30), US Oil and UK Oil.


The price of Crude Oil is rising this morning with production cuts and the potential of increased demand.

Screenshot 2020-05-18 at 10.05.55

However, watch for volatility this week as the June contract will be closing Tuesday and storage issues may still exist, if you recall last month’s crash.

The July futures contract price is now at levels from March of this year.

Also, watch for Wednesday’s WTI Inventories.

This week, Fed chair Jerome Powell will be speaking twice and last week his comments caused all indices, like the Dow Jones Industrial Average to fall.

Screenshot 2020-05-18 at 10.06.32

All indices are starting to consolidate now and likely we will need to see positive news on a vaccine for Coronavirus and positive news on the spread of the virus as economies try to return to normal.

This type of news will also affect the price of gold and Powell’s comments along with negative news on US/China relations, sent it above $1760.

As we have mentioned, price has reached $1800 and much higher in the past.

Keep an eye on Pound Sterling for the next few weeks as our old friend — Brexit — is back with bad news on the negotiations.

Also, watch for UK Manufacturing and GDP data Wednesday along with quite a variety of other economic news from around the world.

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.


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.