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 retreats toward 1.0850 despite weak US employment data
EUR/USD loses its traction and declines toward 1.0850 after testing 1.0900 earlier in the session. Because Nonfarm Payrolls data for October missed the market expectation by a wide margin due to hurricanes and strikes, the US Dollar manages to hold its ground.
GBP/USD climbs above 1.2950, looks to end week little changed
GBP/USD benefits from the improving risk mood and trades in positive territory above 1.2950 in the American session on Friday as markets ignore the weak labor market data from the US. The pair remains on track to end the week flat.
Gold clings to small gains near $2,750 after US data
Gold clings to marginal recovery gains and trades slightly above $2,750. The 10-year US Treasury bond yield struggles to push higher after the dismal October jobs report and weaker-than-expected PMI data from the US, helping XAU/USD keep it footing.
Bitcoin Weekly Forecast: Run toward fresh all-time high hinges on US presidential election results
Bitcoin could experience a price pullback in the next few days ahead of the US presidential election, analysts say, an event that will be key to determining whether and how the crypto class will be regulated in the years to come.
Bank of Japan holds rates steady amid signs of modest GDP growth
Monthly industrial production results have been mixed but generally indicate a modest recovery in third-quarter GDP. Clear guidance from the Bank of Japan remains elusive, with each upcoming meeting being pivotal.
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.