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Trading USDCHF Short. Air Travel Optimism for WTI and Brent Crude.


Welcome to this week’s Market Blast Fundamentals.

I’m Brad Alexander and on behalf of Valutrades today we will take a look at WTI, USDCAD, USDCHF, EURUSD and GBPUSD.

Earlier in the month, we had a surprisingly bad Non-Farm Payroll report which drove the USD weaker, with the trend which doesn’t often give us many trading opportunities unless you have a crystal ball.Screenshot 2021-05-17 at 10.31.46

However, last week's US CPI data surprised the markets and the USD got stronger providing us with this counter-trend price action allowing us to get back into the market with various USD pairs.Screenshot 2021-05-17 at 10.32.16

Such pairs as USDCHF, EURUSD and GBPUSD may have more room to move with the USD weakness.Screenshot 2021-05-17 at 10.32.29

Speaking of GBPUSD, the UK government has announced the opening of more businesses and of the country’s airports to tourist travel, lowering the requirements for quarantine, both of which should help boost the pound.

But watch out this week for UK Claimant Count Change tomorrow and Retail Sales Friday.

Also, we have Retail Sales figures from Australia and Canada.Screenshot 2021-05-17 at 10.33.02

We are still seeing CAD strength overall, but a bit of consolidation lately.Screenshot 2021-05-17 at 10.42.53

However, the optimistic news on air travel should boost the price of WTI and Brent Crude which always helps the Canadian Dollar.

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.