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.
Recommended Content
Editors’ Picks
EUR/USD stays near 1.0400 in thin holiday trading
EUR/USD trades with mild losses near 1.0400 on Tuesday. The expectation that the US Federal Reserve will deliver fewer rate cuts in 2025 provides some support for the US Dollar. Trading volumes are likely to remain low heading into the Christmas break.
GBP/USD struggles to find direction, holds steady near 1.2550
GBP/USD consolidates in a range at around 1.2550 on Tuesday after closing in negative territory on Monday. The US Dollar preserves its strength and makes it difficult for the pair to gain traction as trading conditions thin out on Christmas Eve.
Gold holds above $2,600, bulls non-committed on hawkish Fed outlook
Gold trades in a narrow channel above $2,600 on Tuesday, albeit lacking strong follow-through buying. Geopolitical tensions and trade war fears lend support to the safe-haven XAU/USD, while the Fed’s hawkish shift acts as a tailwind for the USD and caps the precious metal.
IRS says crypto staking should be taxed in response to lawsuit
In a filing on Monday, the US International Revenue Service stated that the rewards gotten from staking cryptocurrencies should be taxed, responding to a lawsuit from couple Joshua and Jessica Jarrett.
2025 outlook: What is next for developed economies and currencies?
As the door closes in 2024, and while the year feels like it has passed in the blink of an eye, a lot has happened. If I had to summarise it all in four words, it would be: ‘a year of surprises’.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.