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UK Interest Rates and GDP in Focus. Short AUDNZD: the Perfect Trade?


Hey Valutraders! Can we take advantage of the volatility of AUD?

Subscribe to Free Valutrades Signals at

I’m Brad Alexander and in this week’s Market Blast Fundamentals let’s take a look at WTI (USOil), USDCAD, GBPCAD, GBPUSD, and AUDNZD.

You have probably heard me hundreds of times talking about how news events can drive price action against the trend, giving us an opportunity to trade with the trend.

Well, I’m not going to stop talking about it and here is why.

If you saw last week’s Market Blast Fundamentals, we looked at 3 Central Banks announcing Interest Rate decisions.Screenshot 2023-05-08 at 16.56.10

The Reserve Bank of Australia surprised the market and increased rates and the AUD got stronger, very quickly.

My rule is that when this kind of price action goes in the direction of the trend, it is too late.

Don’t trade it until you see a pullback.

However, when it goes against the trend, into a technical setup, you can trade with the trend again.Screenshot 2023-05-08 at 16.56.25

Monitoring all the pairs, we saw that AUDNZD did exactly that and we had a perfect short opportunity.

So, is it time to go short again?

Let’s look at it tomorrow from the technical perspective.Screenshot 2023-05-08 at 16.56.33

In the news this week, we have another central bank, the Bank of England, announcing its Interest Rate on Thursday, followed by a speech from Andrew Bailey.

Also, we have Manufacturing Production and GDP figures on Friday.Screenshot 2023-05-08 at 16.56.51

You may automatically think that an increase in Interest rates will drive price action on GBP but, as we can see, it has been getting stronger for weeks now.

The effects may already be priced in, as we say.Screenshot 2023-05-08 at 16.57.07

If we look at GBPCAD we can see that GBP is not the strongest currency now.Screenshot 2023-05-08 at 16.57.15

The CAD definitely is the strongest currency thanks to excellent employment figures last week and an increase in the price of WTI.Screenshot 2023-05-08 at 16.57.24

WTI, by the way, is heading up and we will look at this from the technical side tomorrow.

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.8 May 2023 Fundamentals EN TN



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