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Valutrades Market Blast Fundamentals :: 9 December 2019

   

Welcome to this week’s Market Blast Fundamentals where we will look at GBPUSD, EURGBP, GBPJPY, GBPAUD, the UK Elections and USDCAD.

Let’s take a look at the Economic Calendar and we note that all the 8 major currencies have “Red” impact news events this week so watch for volatility on all currencies.

Screenshot 2019-12-09 at 09.53.58

 

Both the United States and Europe have Interest Rate decisions due this week, Wednesday and Thursday respectively, with Central Bank speeches and statements due from Australia, the US FOMC, Switzerland, Europe and Canada.

Screenshot 2019-12-09 at 09.54.13

 

Pay attention to the Canadian Dollar where a new central bank governor will take over next year and where the currency was quite volatile last week due to poor employment data.

Of course, the UK Pound will be in focus this week with Parliamentary Elections occurring Thursday.

GBP has climbed during the last month as polls show a Conservative majority predicted.

However, watch the results and a Boris Johnson led majority should finally see the path to Brexit and some certainty in the UK economy resulting in GBP strength.

However, a Conservative minority government will cause more uncertainty and price action may stall or fall and, a Labour controlled UK Parliament will certainly cause the Pound to fall.

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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