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I’m Brad Alexander and in this week’s Market Blast Fundamentals, let’s look at AUDNZD, the NASDAQ (US100), NZDUSD, GBPUSD, USDJPY, and gold (XAUUSD).
Yes. We see a slight slowing in the momentum of the USD but don’t be fooled.Also, the Jackson Hole Economic Symposium occurs this week so many investors may be waiting for news.
If you are new to trading, you may not want to get involved in such intense fundamental events but I highly encourage you to pay attention to Jackson Hole this Thursday and Friday where we hear from the leaders of central banks from all over the world. Most important will be Jerome Powell where bankers, traders, and investors will want to know what the US Federal Reserve will do with InterestWe have a bit of economic news this week and watch out for New ZealandThe NZD and the AUD are equally the weakest currencies this week and we can see from the AUDNZD chart that we have a technical consolidation pattern that we will explore tomorrow.
US bond yields are higher which should indicate USD strength but we also see another side effect in lower equity values with all the US Indices like the NASDAQ falling all month.We need to see what Jerome has to say on Friday. We can debate whether the USD or GBP is the stronger currency but GBPUSD is slightly stronger this month…but not by much.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.
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