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 tumbles to 2024 lows near 1.0460
The US Dollar gathers extra pace and weigh on the risk complex, sending EUR/USD to new YTD lows near the 1.0460 region as the NA draws to a close on Thursday.
GBP/USD dips to multi-month lows around 1.2570
Further losses now motivate GBP/USD to revisit the vicinty of the 1.2570 zone for the first time since early May, always on the back of the strong move higher in the Greenback.
Gold faces extra upside near term
Gold extends its bullish momentum further above $2,660 on Thursday. XAU/USD rises for the fourth straight day, sponsored by geopolitical risks stemming from the worsening Russia-Ukraine war. Markets await comments from Fed policymakers.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
A new horizon: The economic outlook in a new leadership and policy era
The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the United States.
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.