Welcome to this week’s Market Blast Fundamentals where we will look at the DAX (DE30), GBPUSD, AUDUSD, EURAUD, Gold (XAUUSD), and the VIX.
“US VIX” can now be found on Valutrades’ MT4 and it measures volatility based on the S&P 500 options and provides a measure of market risk.
The current level is in the mid-20’s but it had reached into the 80’s during the Coronavirus crash and below 9 almost 2 years ago.
Gold continues it’s move higher with more bad news on US/China trade relations, more COVID-19 lockdowns, and the deadlock of the US Congress regarding the next stimulus package.
We saw a bit of a USD recovery last Friday but watch out this week for today’s Manufacturing PMI, Wednesday’s ADP Employment Change and Non-Manufacturing PMI and, of course, Friday’s US Nonfarm Payrolls.
Australia and the UK will be announcing their Interest Rate decisions this week and we see general AUD strength except against the EUR.
The UK Pound is showing general strength despite a lack of progress on Brexit negotiations.
Most indices outside of the United States have been falling and the DAX is no exception with bad corporate earnings’ reports last week and more to come.
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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