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Trading Short EURGBP. WTI & Brent Crude Falling. ECB 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, WTI (US Oil), Brent Crude (UK Oil), EURUSD, EURGBP, and GBPUSD.

 

The Pound is weaker against most other currencies despite the attempted re-opening of the economy in England and we see some technical opportunities like GBPUSD falling to support and this downtrend on EURGBP.Screenshot 2021-07-19 at 09.56.28

We will take a look at these tomorrow.Screenshot 2021-07-19 at 09.57.16

Speaking of the EUR, we may see some movement to the downside, not just against the Pound, but against the USD, CHF and JPY as the market is learning that the ECB will not be raising Interest Rates any time soon and they may let transitory inflation run for a while.

Therefore, keep an eye on Thursday’s Interest Rate Decision and Press Conference.Screenshot 2021-07-19 at 09.57.38

OPEC + has agreed to a schedule of increasing production which has seen falling prices in WTI and Brent Crude which has hurt the COMDOLLS like CAD which is weaker against its counterparts and price action is trying to break some key levels.Screenshot 2021-07-19 at 09.58.01

We will be watching Canadian Retail Sales this Friday as the Loonie gets weaker.

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.19 July EN TN

 

Disclaimer:

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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