Recession Fears Hitting Crude Oil and Natural Gas. US Federal Reserve in Focus this Week.

Hey Valutraders!

Last week we talked about going short on Brent Crude and look what happened!

Why?

I’m Brad Alexander and in this week’s Market Blast Fundamentals let’s take a look at USDJPY, CHFJPY, the S&P 500 (US500), Natural Gas (NATGAS), WTI (USOil), and Brent Crude (UKOil).

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Despite the threat of supply shortages, WTI, and Brent Crude Oil, prices have fallen globally based on the fears of recession.

Natural Gas has also fallen back to support and opened this morning with a gap to the downside.

Basically, most central banks, except for the Bank of Japan, have realised that inflation is a serious problem and is not going away any time soon.

The monetary policy required to fight this crippling inflation may cause a global recession which is also affecting stock indices like the S&P 500.

We see price action trying to break this level of support into a double bottom and we will look at this tomorrow.

Investors will be watching the central banks in Europe, Australia, and the US this week for clues as to what they will do next.

As mentioned, JPY is getting weaker with CHFJPY at levels that we haven’t seen since the Swiss crisis in 2015.

USDJPY is at levels in the mid-130s that we haven’t seen since 2002 and 1998.

We will be keeping an eye on this for you in the next few weeks as we are waiting for this great opportunity to Buy JPY.

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

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