Welcome to this week’s Market Blast Fundamentals where we will look at NZDUSD, EURUSD, the DAX, the VIX, and the S&P 500.
So, the long wait is over and the United States finally has a new President-Elect in former Vice-President Joe Biden.
With much uncertainty being eliminated now, the US Indices, like the S&P 500, opened this morning to the upside with a gap and the VIX, (the measure of volatility of the S&P 500) has calmed down, from the high of 35.75 11 days ago, to 24 today.
The European Indices, like the DAX, opened similarly this morning.
The US Majors show US dollar weakness but this has been priced in for a while.
However, the race is not over in the United States as the Senate still has not been decided.
If Democrats can gain control they will have all 3 branches of government and be able to pass bills regarding stimulus, taxes and regulation which will affect the US dollar.
Of course, we have a significant amount of news on this weeks Economic Calendar affecting most currencies such as:
Several speeches by the Central Bank governors of the Bank of England and the ECB as well as Employment data from both,
GDP and Manufacturing Production figures from the UK,
And Retail Sales and an Interest Rate decision from New Zealand.
The NZD has shown strength this month against all other currencies.
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.
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.
Comments