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EURUSD at 20-Year Low! Russia Cuts Off the Gas! Central Banks Fighting Inflation.


Hey Valutraders! EURUSD is now below $0.99! Why?

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I’m Brad Alexander and in this week’s Market Blast Fundamentals let’s take a look at Gold (XAUUSD), the USD Index, Brent Crude (UKOil), Natural Gas (NatGas), GBPUSD, and EURUSD.

This morning we woke up to the news that Russia has cut the Nord Stream 1 pipeline which has caused turmoil in European markets.Screenshot 2022-09-05 at 10.58.45
EURUSD opened with a gap to the downside, below $0.99 and we need to look at the monthly chart to see price action this low from 2002.Screenshot 2022-09-05 at 10.58.53
This puts tremendous pressure on the European Central Bank to substantially raise Interest Rates this Thursday.Screenshot 2022-09-05 at 10.59.00
The same can be said of the Reserve Bank of Australia and the Bank of Canada, as all central banks around the world are trying to fight inflation.

You can see that the Economic Calendar is very busy this week and you will find that almost every item can move the markets so you can either be careful with these, or look for great opportunities.Screenshot 2022-09-05 at 10.59.10

However, not on the Economic Calendar, will be the appointment of Liz Truss as the new Prime Minister of the UK.

She may be announcing plans and policies to fight inflation very quickly so watch for volatility on GBP pairs this week.Screenshot 2022-09-05 at 10.59.32

Getting back to Europe, Natural Gas opened this morning with a gap to the upside and we expect volatility as we head into winter, with huge uncertainty around Russia’s shutting off the flow of gas.Screenshot 2022-09-05 at 10.59.44

The same can be said for Brent Crude which also opened higher with a gap.Screenshot 2022-09-05 at 11.01.57

The USD Index just keeps marching higher and this is a problem.

This makes US exports much more expensive, which is the last thing we need in an inflationary environment, and many emerging economies have to repay sovereign debt in USD so we may have to deal with a different crisis in a few months’ time.Screenshot 2022-09-05 at 11.02.30

Despite the global turmoil, price action on Gold has been falling for months.

Have we seen the bottom at this level of support at $1695?

Let’s look at it tomorrow.

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

CFDs and FX are leveraged products and your capital may be at risk.5 Sept 2022 Fundamentals EN TN



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.