Brad Alexander
FX Large Limited
I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at the Dow Jones Industrial Average (US30), WTI (USOil), GBPUSD, AUDUSD, and NZDUSD.
I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at the Dow Jones Industrial Average (US30), WTI (USOil), GBPUSD, AUDUSD, and NZDUSD.
Despite a bad headline Non-Farm Payroll report last week, the actual details we much better than predicted with an Unemployment Rate of 4.2% and a very good US Services PMI number so the USD is getting stronger.
This good news means that the US Federal Reserve can look again at tapering and raising Interest Rates earlier which makes USD stronger.
The weaker currencies now are GBP, NZD and AUD, mostly based on COVID Omicron uncertainty.
Therefore, we can see some good opportunities if we look at these currencies paired with the strong USD.
We need to look at the weekly charts to see previous key levels on these pairs but watch out this week for news on Interest Rates from Australia and Canada, Employment and GDP Data from Europe, Manufacturing and GDP from the UK.
We saw a plunge in price on WTI & Brent based on Omicron uncertainty but keep in mind that there is currently a rare open meeting of OPEC+ occurring right now so we may get news on future production at any time.
Investors are clearly optimistic about COVID Omicron as we see a lot of buying in the equity markets and this is being reflected in the Indices like the Dow Jones Industrial Average.
We will look at the Indices from the technical standpoint tomorrow.
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