Brad Alexander
FX Large Limited
Welcome to this week’s Market Blast Fundamentals.
I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at Brent Crude (UKOil), USDJPY, EURUSD, GBPUSD, and EURGBP.
GBP is again being affected by the market’s confidence in the UK government and the latest elections have not helped.
For the first time in history, a separatist government has won the election in Northern Ireland and many Conservative councils have fallen to the Labour Party.
Even though the Bank of England raised Interest Rates last week, they issued a grim picture of economic growth.
Investors and traders will be watching Manufacturing Production and GDP figures this week.
USD is stronger again based on last week’s good Non-Farm Payrolls data.
USDJPY is trying to break resistance above 131 and many analysts are now talking about EURUSD parity.
To see EURUSD at $1, we need to open the monthly chart and look back to 2002, 20 years ago.
We see Brent Crude climbing steadily again but watch out for more news on European sanctions against Gas and Oil from Russia.
While we may offer market commentary based on fundamental or technical analysis, we do not offer trading advice and cannot be held liable for any decisions taken by viewers and readers of our material.
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Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
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Week ahead – US GDP and BoJ decision on top of next week’s agenda
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