Trading Brent Crude & WTI Central Banks in Focus with Interest Rates.

Welcome to this week’s Market Blast Fundamentals.

I’m Brad Alexander and on behalf of Valutrades, today we will take a look at USDCAD, NZDUSD, USDJPY, Brent Crude (UK Oil), and WTI (US Oil).

The outlook for WTI and Brent Crude is looking less optimistic than we had seen in the last few weeks of price increases.

The new outbreaks of the COVID Delta Variant, various lockdowns around the world, and vaccine hesitancy, have questioned the demand for crude around the world and we see the price of the WTI September contract falling this morning.

Last week’s low was in the $70 per barrel range and we hear rumours about the continuing talks between the US and Iran.

If Iranian sanctions on Crude Oil exports are lifted, we will see prices falling further.

Also, watch out Wednesday for the US Crude Oil Inventories which almost always affects the price of oil and the Canadian Dollar.

Canada, New Zealand, and Japan will announce new Interest Rate Decisions this week so watch for volatility.

We have seen JPY weakness in the last few days and we will look at this from the technical side tomorrow and how to set up for the Interest Rate Decision if we see any counter-trend moves in price action. 

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.