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GBP Hit Hard by COVID Lockdowns. COBRA Crisis Meeting Today.

   

Welcome to this week’s Market Blast Fundamentals where we will look at EURCAD, WTI (US Oil), the S&P 500 (US 500), the NASDAQ (US100), GBPUSD and EURGBP.

 

All Pound pairs opened with a Gap this morning as the new strain of Coronavirus has forced much of the United Kingdom into lockdown and forced many countries to ban flights from the UK.Screenshot 2020-12-21 at 10.18.46

Watch GBP pairs today as the government’s COBRA crisis committee will meet today to discuss the way forward including food and supply chain issues.Screenshot 2020-12-21 at 10.18.57

GBPUSD is especially important as the USD is stronger today based on a stop-gap funding package to keep the US Government open.

This may reverse, however, as the US Congress may be passing the next round of COVID stimulus packages today or tomorrow.Screenshot 2020-12-21 at 10.19.07

This will positively affect US equities and the indices like the S&P 500 and the NASDAQ which have fallen today.

Also, watch out for economic news this week out of the United States like GDP, Home Sales, Consumer Confidence and Core Durable Goods Orders.

Affecting the price of WTI will be the weekly Crude Oil Stock Change.Screenshot 2020-12-21 at 10.19.24

Global lockdowns and travel bans have affected both WTI and Brent Crude and the Canadian Dollar and we will look at that tomorrow.

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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