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Trading Short USDCAD. Focus on ECB Interest Rates. Zero PIP Spreads on EURUSD!

   

Welcome to this week’s Market Blast Fundamentals.

Subscribe to Free Valutrades Signals at https://www.valutrades.com/en/trading-signals

I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at USDCAD, Brent Crude (UKOil), EURUSD, and GBPUSD.

 

We see that USD is consolidating with strength against JPY, weakness against the Comdolls, and consolidating against other pairs.Screenshot 2022-06-06 at 15.49.18

Last week’s US Non-Farm Payrolls were quite good and this gave USD some temporary strength which gave us some great counter-trend trading opportunities like this one on GBPUSD.Screenshot 2022-06-06 at 15.49.36

However, this week the US Federal Reserve will be watching this week’s CPI numbers on Inflation before making next week’s announcement on Interest Rates so watch for more USD opportunities.Screenshot 2022-06-06 at 15.50.03

Brent Crude is marching higher and it passed $120 per barrel based on the latest EU sanctions against Russia and last week’s price action and opportunities worked out as we predicted.

The price of Crude has also helped the Comdolls like CAD.Screenshot 2022-06-06 at 15.50.15

We see pairs like USDCAD falling back to key levels of support but watch out this week for Canadian PMIs tomorrow, a Bank of Canada statement Thursday, and Employment Change on Friday.

Also, the main focus will be on the European Central Bank’s Interest Rate decision on Thursday where we expect no change.

However, the Policy Press Conference will give us a clue to the size of the Interest Rate increase coming in July.Screenshot 2022-06-06 at 15.50.30

You will note the spread right now on EURUSD.

Zero pips!

We will have more on Valutrades low spreads tomorrow.Screenshot 2022-06-06 at 15.50.41

We see mixed strength and weakness on EUR pairs but watch for volatility on Thursday. 

Thanks for watching and don’t forget to subscribe to Valutrades Signals and the link will be in this video’s description below.

Also, 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 next time.

CFDs and FX are leveraged products and your capital may be at risk.6 June 2022 Fundamentals 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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