Welcome to this week’s Market Blast Fundamentals where we will look at GBPUSD, EURGBP, WTI (US Oil), USDCAD, the VIX, and the NASDAQ.
US Equity Indices have dipped over the last few days with some recovery this morning.
The key news to watch will be the next US stimulus package with which Nancy Pelosi has set a deadline of tomorrow but both sides are far apart and we are only 2 weeks away from the US general election.
Watch the VIX as well to take advantage of implied volatility.
The USD is mixed showing weakness against the Canadian Dollar, the Pound, Aussie and Kiwi, but strength against the Yen, Franc and Euro.
But watch this week as well for Economic News with a speech today by Jerome Powell, Building Permits tomorrow, and Home Sales Thursday.
As mentioned, USDCAD is falling as the Canadian Dollar gets stronger on the back of higher oil prices as we see both WTI and Brent climbing and watch this week for news from oil producing nations as they try to stabilise the price of Crude.
Of course, watch for news on Brexit as the UK may be preparing to leave with no trade deal, or rewrite their own legislation, which will cause discord in the UK Parliament and affect the markets.
That’s all for now. Happy trading with Valutrades and we will see you tomorrow.
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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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