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Valutrades Market Blast Fundamentals 21 October 2019


Welcome to this week’s Market Blast Fundamentals where we will look at EURUSD, USDCAD, CADJPY, FTSE (UK100), EURGBP, and GBPUSD with Brexit.

21 Oct 2019 Fundamentals

We have seen the Pound rally since the 10th of October based on Brexit optimism and this week, again, the UK Parliament will attempt to vote on leaving the European Union.

Screenshot 2019-10-21 at 10.03.02

So, expect volatility and a stronger Pound if the vote passes this week.

Screenshot 2019-10-21 at 10.03.21

We can also see the FTSE 100 Index of UK companies has been underperforming compared to others due to Brexit uncertainty.

Keep in mind that a positive Brexit resolution should help UK equities driving the UK100 higher, but a strong Sterling will keep the UK100 lower by comparison.

We see Canadian Dollar strength against the USD and the Yen but weakness against the Pound and at a key level against the Aussie.

Today’s federal election may cause volatility and, if the vote results in a minority government, we expect CAD weakness.

Also, watch for tomorrow’s Retail Sales figures and Wednesday’s Crude Oil Inventories.

Thursday we concentrate on the EUR with an Interest Rate Decision and press conference so let’s see if October’s rally will continue.

That’s all for now. Happy trading with Valutrades and we will see you tomorrow.


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