Welcome to this week’s Market Blast Fundamentals where we will look at EURGBP, GBPUSD, EURUSD and USDCNH.
Renmimbi is getting stronger against the US Dollar and yesterday’s excellent PMI numbers, higher than analysts' expectations, show signs of a recovering economy.
But the focus this week will be on the US Non-Farm Payrolls to see how many Americans were able to return to work during the Coronavirus pandemic.
Also, watch for US PMI numbers today and Thursday and, of course, any polls or comments regarding the upcoming US elections will affect the USD.
Looking at the US Majors we see USD weakness across all pairs and with Jerome Powell’s comments last week, about low interest rates for years to come, this weakness may continue.
GBP is also looking strong but watch for the speech by the Bank of England governor Andrew Bailey and any news on Brexit this week as emergency talks will be held to try to save the deal.
Also, watch for GDP and Retail Sales figures from Australia, and Retail Sales figures from Europe.
The EUR is mixed in terms of strength against other currencies but we see it weaker against the GBP which is the one to watch with any Brexit news.
That’s all for now. Happy Trading with Valutrades and we will see you tomorrow.
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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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