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USD Strength Continues. Gold (XAUUSD) back to $1800? EURUSD Going to Parity?


Welcome to this week’s Market Blast Fundamentals.

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I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at Natural Gas (NatGas), Gold (XAUUSD), and EURUSD.


As we can see, USD is continuing its march higher and investors will be watching Jerome Powell Tuesday evening.Screenshot 2022-05-16 at 12.19.22

The markets expect the US Federal Reserve to hike Interest Rates by 0.25% in June but if Powell hints at something higher, we could see USD go even higher.

Also tomorrow, we will see the European Union GDP figures and later a speech by Christine Lagarde.

Here as well, investors will be waiting for news on Interest Rate rises to see what the ECB can do to slow down inflation and what, if anything, European industries can do about the potential ban on Russian oil.Screenshot 2022-05-16 at 12.19.39

We looked at the EURUSD weekly chart last week and we see price action is lower again, trying to break support from years ago.Screenshot 2022-05-16 at 12.19.47

If we look at the monthly chart we see the level of “parity” where EURUSD is $1.00.

This happened 20 years ago and many analysts and banks see this coming.Screenshot 2022-05-16 at 12.19.59

The strength of USD is affecting Gold as we see price action continuing to fall on XAUUSD.

We have a few levels of support below, all in the high and low $1700s.Screenshot 2022-05-16 at 12.20.13

We see Natural Gas moving higher as European countries are trying to work out how to pay for it as Russia is demanding Rubles, against the current sanctions.

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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.16 May 2022 Fundamentals EN TN



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