Brad Alexander
FX Large Limited
I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at NZDUSD, Brent Crude (UKOil), WTI (USOil), the S&P 500 (US500) and the Dow Jones Industrial Average (US30).
Most global stock indices fell last week due to poor earnings reports from companies like Goldman Sachs.
The S&P 500 and the DJIA have 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 Microsoft, Apple and Intel so investors will hope that good news will stop the sell-off.
We will be watching the US/Russia talks regarding Ukraine as crude oil prices are being affected with WTI now at $86.25 and Brent Crude now at $88.60 per barrel respectively.
USD is still showing strength over the last couple of weeks with NZDUSD showing the biggest difference.
We see further USD strength as we get closer to the March Interest Rate rise but we will be watching the economic news this week for more information from the Fed, and other important events, plus a Bank of Canada Interest Rate Decision.
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 in positive territory above 1.0850 after US data
EUR/USD clings to modest daily gains above 1.0850 in the second half of the day on Friday. The improving risk mood makes it difficult for the US Dollar to hold its ground after PCE inflation data, helping the pair edge higher ahead of the weekend.
GBP/USD stabilizes above 1.2850 as risk mood improves
GBP/USD maintains recovery momentum and fluctuates above 1.2850 in the American session on Friday. The positive shift seen in risk mood doesn't allow the US Dollar to preserve its strength and supports the pair.
Gold rebounds above $2,380 as US yields stretch lower
Following a quiet European session, Gold gathers bullish momentum and trades decisively higher on the day above $2,380. The benchmark 10-year US Treasury bond yield loses more than 1% on the day after US PCE inflation data, fuelling XAU/USD's upside.
Avalanche price sets for a rally following retest of key support level
Avalanche (AVAX) price bounced off the $26.34 support level to trade at $27.95 as of Friday. Growing on-chain development activity indicates a potential bullish move in the coming days.
The election, Trump's Dollar policy, and the future of the Yen
After an assassination attempt on former President Donald Trump and drop out of President Biden, Kamala Harris has been endorsed as the Democratic candidate to compete against Trump in the upcoming November US presidential election.