Welcome to this week’s Market Blast Fundamentals where we will look at USDCAD, USD, AUDUSD, and GBPAUD.
Many analysts and banks are looking at GBPAUD shorts this week after Friday’s huge Pound rally, based on positive Brexit news.
However, over the weekend, the European Union negotiators are not convinced and the Pound is expected to fall if the Brexit situation turns worse.
The Australian Dollar, on the other hand, has had positive news with the US/China trade talks making progress so we will watch our key levels on GBPAUD.
This week watch for UK Employment and Retail Sales data on Tuesday and Thursday, and Employment data from Australia on Thursday as well.
Also, the USD may be affected by Retail Sales data Wednesday and Building Permits Thursday.
Watch for news from the Fed as the markets have priced in an Interest Rate cut for the end of the month and, of course, impeachment talks may cause volatility.
USDCAD took a huge fall Friday with excellent Canadian Employment data but watch Thursday for news on Crude Oil Inventories and any news from the Bank of Canada about the planned December Interest rate cut.
That’s all for now. Happy trading with Valutrades and we will see you tomorrow.
CFDs and FX are leveraged products and your capital may be at risk.
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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