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ECB, BoC, and BoJ Interest Rate Decisions this Week.

   

Welcome to this week’s Market Blast Fundamentals where we will look at Gold (XAUUSD), GBPUSD, EURGBP, EURJPY, and EURUSD.

 

Let’s start with the Economic Calendar which is full of events every day this week and we can expect volatility in the FX markets.

Notably, we will see Central Bank Interest Rate decisions from Europe, Canada and Japan and a meeting of EU leaders Friday and Saturday to discuss stimulus packages to counter the economic effects of the Coronavirus pandemic.Screenshot 2020-07-13 at 09.30.54

We see the EUR consolidating against most major currencies for over one month now with some weakness against GBP.Screenshot 2020-07-13 at 09.31.05

We see some gains in the UK Pound with Brexit preparations underway and commitments by the government to look at lowering taxes and to help manage growing UK corporate debt from the effects of the pandemic.

We also have a lot of activity from London this week with Manufacturing Production and GDP results tomorrow, Employment data Thursday and speeches from the Bank of England governor, Thursday and Friday.

If you would like to know more about understanding and trading economic news events, we will be holding a special webinar on this inspiring topic, 28 July.

We will post links to the webinar registration in tomorrow’s video.Screenshot 2020-07-13 at 09.31.17

Gold has passed the $1800 mark, driven by continued Coronavirus bad news from large US states, and more threats of trade tariffs between the US, Europe and China so watch for news on these.

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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