Hey Valutraders! The USD just keeps getting stronger!
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I’m Brad Alexander and in this week’s Market Blast Fundamentals let’s take a look at Gold (XAUUSD), GBPUSD, NZDUSD, USDJPY, and EURUSD.
The latest set of US economic data has the Fed increasing Interest Rates again so the USD is getting stronger.
Therefore, investors and traders will be watching the FOMC Meeting Minutes this week along with other Fed speeches.
The JPY is weaker again.
Kazuo Ueda, the government’s nominee to become the next BOJ governor, is expected to speak at a confirmation hearing at the lower house of parliament on February 24th.
Also, a Japanese CPI report is due the same day so watch for volatility.
The NZD is also quite weak but for different reasons than the JPY.
Inflation is a big problem in New Zealand and extreme weather isn’t helping.
The Reserve Bank of New Zealand will be announcing a new Interest Rate and analysts see this as a 0.5% increase but no one is 100% sure.
This could offer some great trading opportunities if the consensus is wrong.
Also, watch for the UK’s PMI figures tomorrow which will be critical data in a fragile economy.
Gold is still trending down thanks to the strong USD and we see a technical opportunity for tomorrow’s video.
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That’s all for now. Happy trading with Valutrades and we will see you next time.
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