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Trading WTI Higher on Supply Issues. Inflation in Focus this Week.


Welcome to this week’s Market Blast Fundamentals.

I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at  EURGBP, EURUSD, WTI (US Oil), and USDCAD.


We see USD strength starting from last Friday and we will look at these pairs from the technical aspect tomorrow once the markets have made some progress.Screenshot 2021-09-13 at 11.20.21

On the contrary, today, we see a bit of consolidation on USDCAD.

Last week’s Canadian Employment numbers were good but the big driver of CAD is the price of Crude Oil and we see the price of WTI back to $70 per barrel.

A report published this morning by Goldman Sachs cited supply problems with commodities, Oil production problems caused by Hurricane Ida, and limited Oil exports from Iran until 2022.Screenshot 2021-09-13 at 11.20.47

We are seeing GBP strength as well with the biggest change against the EUR.Screenshot 2021-09-13 at 11.20.59

As we can see on the EURGBP chart, this is definitely worth a look from the technical side tomorrow.

But, watch out this week for 2 speeches from the ECB's Christine Lagarde, Retail Sales and Claimant Count Change which will affect GBP this week.Screenshot 2021-09-13 at 11.21.17

Sometimes we have to check more than one Economic Calendar because we know that many economies will be looking at CPI data to confirm if inflation is transitory or here to stay so watch for opportunities on USD, GBP and CAD this week.

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.13 Sept EN TN



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