Brad Alexander
FX Large Limited
I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at NZDUSD, Brent Crude (UKOil), WTI (USOil), the S&P 500 (US500) and the Dow Jones Industrial Average (US30).
Most global stock indices fell last week due to poor earnings reports from companies like Goldman Sachs.
The S&P 500 and the DJIA have fallen back to an important technical level and we will look at this tomorrow.
This week, however, we will see earnings reports from large institutions like Microsoft, Apple and Intel so investors will hope that good news will stop the sell-off.
We will be watching the US/Russia talks regarding Ukraine as crude oil prices are being affected with WTI now at $86.25 and Brent Crude now at $88.60 per barrel respectively.
USD is still showing strength over the last couple of weeks with NZDUSD showing the biggest difference.
We see further USD strength as we get closer to the March Interest Rate rise but we will be watching the economic news this week for more information from the Fed, and other important events, plus a Bank of Canada Interest Rate Decision.
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.
Recommended Content
Editors’ Picks
EUR/USD hovers around 1.0750 with a negative sentiment amid hawkish Fed
EUR/USD could extend its losses for the third successive session, trading around 1.0750 during the Asian session on Thursday. The US Dollar appreciates amid expectations of the Federal Reserve’s maintaining higher interest rates.
GBP/USD holds below 1.2500 ahead of BoE rate decision
GBP/USD extends its losing streak for the third successive session, trading around 1.2490 during the Asian session on Thursday. Thursday brings the Bank of England interest rate decision, with expectations of maintaining interest rate at 5.25%.
Gold price gains momentum, investors await US data, Fedspeak for fresh catalyst
Gold price holds positive ground in Thursday’s Asian session. The rise in global gold demand, persistent central bank purchasing, and safe-haven flows might continue to boost the precious metal.
President Biden threatens crypto with possible veto of Bitcoin custody among trusted custodians
Joe Biden could veto legislation that would allow regulated financial institutions to custody Bitcoin and crypto. Biden administration’s stance would disrupt US SEC’s work to protect crypto market investors and efforts to safeguard broader financial system.
BoE set to leave interest rates unchanged amid increasing expectations of cuts
It's anticipated that the BoE will maintain the benchmark interest rate at 5.25% after its policy meeting today at 11:00 GMT. Alongside the policy rate announcement, the bank will release the Monetary Policy Minutes and the Monetary Policy Report.