Welcome to this week’s Market Blast Fundamentals.
I’m Brad Alexander and on behalf of Valutrades today we will take a look at WTI (US Oil), GBPJPY, Gold (XAUUSD), GBPUSD, AUDUSD and EURUSD.
Last week’s Non-Farm Payroll report dramatically missed analysts’s expectations which made the USD very weak against most currencies like the Pound, AUD and EUR.
You will note, on many charts, that price has passed some key levels and many market players see further USD weakness.
Gold, which we trade as a pair against the USD, was also very strong and we will take a look at this tomorrow from the technical side.
GBPUSD was also very bullish based on the bad US data but also on very positive election results from the UK this past weekend.
GBP was stronger against all other currencies, especially the JPY, and we will look for technical opportunities on these tomorrow as well.
But, in the meantime, watch your economic calendars for potential volatility and opportunities on GBP with 3 speeches by the Governor of the Bank of England and Wednesday’s Manufacturing Production and GDP results.
Also, watch for Wednesday’s Crude Oil Inventories Change as a cyberattack has shut down a major US pipeline and caused WTI to open with a price gap this week.
Better news on this pipeline will cause prices to fall and perhaps to “Fill the Gap”.
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.
Comments