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USD Falls on Silicon Valley Bank Collapse. Gold (XAUUSD) Opens Higher with a Gap.


Hey Valutraders! Did you see the huge drop in USD?

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I’m Brad Alexander and in this week’s Market Blast Fundamentals let’s take a look at the S&P 500 (US500), Gold (XAUUSD), EURUSD, CHFJPY, USDCHF, and USDJPY.


Every once in a while, an event happens that completely upends the markets.

The collapse of the Silicon Valley Bank has done just that for two reasons.Screenshot 2023-03-13 at 16.56.53

Firstly, the idea that more banks may fail has driven investors to safe havens like JPY and we see the results.Screenshot 2023-03-13 at 16.57.43

We can also see the renewed strength in CHF which is also a traditional safe haven with USDCHF falling to 0.916 at this key level of support.

So, if we have 2 traditional safe havens it is not unusual for traders to see which one is winning.Screenshot 2023-03-13 at 16.57.21

Therefore, if we look at CHFJPY, we see the Swiss Franc clearly ahead since the middle of January.

Secondly, the collapse of SVB and other banking issues has had the US Federal  Reserve rethinking the next rise in Interest Rates, thereby making USD weaker.

You know where I am going with this!Screenshot 2023-03-13 at 16.58.16

Gold is now higher, both as a safe haven and as a reaction to the weaker USD.Screenshot 2023-03-13 at 16.58.26

EURUSD is behaving like all USD pairs but be aware that we have some very important economic news this week as we expect the ECB to raise Interest Rates by 0.5%.Screenshot 2023-03-13 at 16.58.30

Expect volatility.Screenshot 2023-03-13 at 16.58.36

Looking at the US Indices, it seems that some investors were less worried about the collapse of a bank or two, and more impressed by the concept of lower interest rates.

All US Indices are higher today on a “Risk-on” mood.

Thanks for watching and don’t forget to subscribe to Valutrades Signals and the link will be in this video’s description below.

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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.13 March 2023 Fundamentals EN TN



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.