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 EURUSD, USDNOK, Gold (XAUUSD), the DJIA (US30), and the S&P500 (US500).
The S&P 500 has 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 Goldman Sachs, Proctor & Gamble, Bank of America, and Morgan Stanley so we may get a rebound in the S&P 500 and the Dow Jones Industrial Average.
…or we may see more bad news as the markets are already considering that the US Federal Reserve will raise Interest Rates in March.
Gold is still climbing, probably based on the Ukraine/Russia tensions, so any news, good or bad, will affect price action on XAUUSD.
We have two Interest Rate decisions this week: one tomorrow from Japan and another Thursday from Norway so we might want to watch for volatility on USDNOK.
Also, investors will be listening to Christine Lagarde on Friday as European Inflation is becoming a big problem and the ECB may have to consider raising Interest rates sooner than 2023.
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
AUD/USD favours extra retracements in the short term
AUD/USD kept the negative stance well in place and briefly broke below the key 0.6400 support to clinch a new low for the year on the back of the strong dollar and mixed results from the Chinese docket.
EUR/USD now shifts its attention to 1.0500
The ongoing upward momentum of the Greenback prompted EUR/USD to lose more ground, hitting new lows for 2024 around 1.0600, driven by the significant divergence in monetary policy between the Fed and the ECB.
Gold ascends but remains shy of testing $2,400 amid hawkish Fed remarks
Gold prices edged higher late in North American session, gaining 0.22% following a hawkish tilt by Fed Chair Jerome Powell. Economic data from the United States was mixed, though Monday’s Retail Sales report and Powell’s remarks kept US Treasury yields higher, capping the yellow metal’s advance.
Bitcoin price outlook amid increased demand and speculation pre-halving
Bitcoin price is edging lower as markets count only days to the halving. Nevertheless, the dump has not shaken the faith of large holders as they continue to cling to their holding even after a month of steady dumps.
UK CPI inflation data ahead: Sterling hovering north of key support
Following today's mixed bag of employment and wages data, today’s attention is directed to the March UK CPI inflation release. Both headline and core measures have surprised to the downside in the previous two releases and are expected to demonstrate further evidence of disinflation.