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Trading Short CADCHF? GBP higher on Political Stability? CAD & EUR Interest Rates


Hey Valutraders! Have you seen the volatility on USDJPY!

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I’m Brad Alexander and in this week’s Market Blast Fundamentals let’s take a look at EURGBP, CADCHF, WTI (US Oil), Natural Gas (NatGas), GBPUSD and USDJPY.


On Friday, the Bank of Japan bought their own currency which caused JPY to appreciate quickly and violently after reaching almost 152 on USDJPY.Screenshot 2022-10-24 at 17.58.28

Unfortunately, that wasn’t enough for the markets as price action has risen.Screenshot 2022-10-24 at 17.58.40

We saw the same volatility in all JPY pairs but the strong USD, and Interest Rate differentials with the rest of the world, are holding JPY in a weak position.

Investors see the turmoil in the UK Parliament possibly coming to an end which has strengthened GBP.Screenshot 2022-10-24 at 17.58.50

Over the weekend, Boris Johnson decided to drop out of the race to become Prime Minister again, which gave more certainty to the situation.

But be aware of the gaps from this morning.

Speaking of gaps, last week’s gap in price action on Natural Gas has not been filled as EU leaders agreed to measures, including price caps, to lower the price of energy for industries and homes.Screenshot 2022-10-24 at 17.59.11

We haven’t seen $5 gas since March and we will look at this from the technical side tomorrow.Screenshot 2022-10-24 at 17.59.17

This has caused WTI to fall as well, into this key demand zone, so we will keep an eye on this.Screenshot 2022-10-24 at 17.59.25

The fall in the price of oil has not had the usual effect on CAD but we see a Double Top on CADCHF and we will look at this tomorrow.

However, be aware of Wednesday’s Interest Rate decision and press conference out of Ottawa, and GDP Friday.Screenshot 2022-10-24 at 17.59.33

We have lots of economic events coming out of Europe this week with an ECB Interest Rate decision, press conference and speech on Thursday, ending the week with French and German GDP.Screenshot 2022-10-24 at 17.59.43

Short-term price action on EUR pairs is mixed with a gap on EURGBP so watch for volatility this week.

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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.24 October 2022 Fundamentals EN TN



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