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Recession Fears in UK. Gold Falls on NFP Report. NatGas Opens with a Gap, Again.

   

Hey Valutraders! Did you see Friday’s jump in the USD?

Subscribe to Free Valutrades Signals at https://www.valutrades.com/en/trading-signals

I’m Brad Alexander and in this week’s Market Blast Fundamentals let’s take a look at Natural Gas (NatGas), Gold (XAUUSD), USDJPY, and GBPUSD.

 

Last week’s US Non-Farm Payrolls report was much higher than expected sending the USD higher and alleviating fears of a recession in the world’s largest economy.Screenshot 2022-08-08 at 11.32.27

However, the US Federal Reserve, analysts and investors will be watching this Wednesday’s US CPI monthly figures which will tell us about current levels of inflation.Screenshot 2022-08-08 at 11.32.38

Also on the calendar are some important Manufacturing and GDP figures from the UK.

Last week’s speech by Andrew Bailey painted a very unpleasant picture of the UK economy for the next couple of years so these GDP figures could help or make matters a lot worse.Screenshot 2022-08-08 at 11.32.49

GBP fell last week based on the speech even though the Bank of England raised Interest Rates.

We may not know the future of GBP until a new Prime Minister is chosen which is less than one month away.Screenshot 2022-08-08 at 11.32.59

The great NFP report saw Gold falling and this may be giving us a great opportunity to buy but we will look at this from a technical perspective tomorrow.Screenshot 2022-08-08 at 11.33.05

Our wait for the big JPY reversal continues as the Japanese Yen fell again based on the US vs Japanese Interest Rate differential and Friday’s good NFP report made this worse.

However, we still see technical opportunities and we will look again tomorrow.

Just like last week, Natural Gas has opened with a gap to the downside and the bias is on the Sell side but the unpredictable situation in Russia makes this commodity quite volatile.

Thanks for watching and don’t forget to subscribe to Valutrades Signals and the link will be in this video’s description below.

Also, 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 next time.

CFDs and FX are leveraged products and your capital may be at risk.8 August 2022 Fundamentals EN TN

 

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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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