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Trading Gold Long on Bond and Tariffs. Optimism on Canadian Budget.


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, EURCAD, the China A50 Index, and Gold (XAUUSD).

Gold broke through a major technical level last week after the US government announced sanctions against Russia for a variety of offences and on declining US Bond Yields.Screenshot 2021-04-19 at 11.07.26

Also, the Chinese government has allowed the importation of Gold bullion by banks which should also bolster the price.

Price is now consolidating and we will look at the technical  opportunities tomorrow.Screenshot 2021-04-19 at 11.06.13

The China A50 Index has risen based on a recovering economy and it definitely has room to move to the upside compared to all other major stock indices.

The Canadian Dollar is looking strong against the USD and EUR but weaker or mixed against others.Screenshot 2021-04-19 at 11.06.27

However, we may see more CAD strength as a new budget will be announced today with an improving economy, the Canadian government should be announcing the tapering of bond purchases which will lift the value of the Canadian Dollar.

Also, Wednesday, watch for the official announcements regarding the Bank of Canada policies and Interest Rate which will cause volatility.

The European Central Bank will also be announcing their Interest Rates Thursday but we don’t expect any changes in policies.

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.


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.