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US Stimulus and Vaccine Hopes in Focus.

   

Welcome to this week’s Market Blast Fundamentals where we will look at EURGBP, EURUSD WTI (US Oil), and the Dow Jones Industrial Average (US30).

 

The US Indices like the Dow Jones, or US30, have risen today, after 4 days of losses, based on good news regarding the Coronavirus Vaccine and we might expect further gains if the US Congress and the US Treasury Secretary can agree on a stimulus package.Screenshot 2020-11-23 at 09.58.07However, keep an eye on the news as US Thanksgiving is this weekend and we expect Coronavirus cases to spike putting more strain on the economy.Screenshot 2020-11-23 at 09.58.15The good vaccine news has also helped the price of Crude Oil which had WTI reaching $42.88 this morning but again, watch for further lockdowns in many countries in the next few days and weeks which will keep prices lower.Screenshot 2020-11-23 at 09.58.26The US Major pairs have shown weakness and this may continue if the US Stimulus package is approved and investors convert cash to equities.

But watch this week for US Consumer Confidence Tuesday, and Wednesday we have US GDP, Durable Goods Orders and New Home Sales.Screenshot 2020-11-23 at 10.00.02

Of course, we need to keep an eye on the UK Pound getting stronger with Brexit talks coming to a head 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.

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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