CommoditiesForexMarket Review

The end of economic painkillers!

As the aids imposed during the first lockdown to help relieve rents, mortgages and salaries for companies so they do not fire their staff will soon be coming to an end and its expected that already 300k people in the uk will be defaulting on their mortgages and many more will be unable to to pay rent.

We may see the number of homeless rise at a dramatic rate with credit defaults rising more than 2008 financial crisis in the UK and since the new shutdown in the economy is likely to leave people incentivised to go out, the hospitality industry is going to face a second blow to its business with 900K jobs at risk and oh boy is winter coming!

In the markets:

We saw a short term stronger dollar blow out price expectations and create some volatility in the gold market. So we will wait to see if we resume the downside trend in the dollar forcing GBPUSD and EURUSD longer term higher. If the dollar starts breaking down we will be long term targeting $3000 in the price of gold. So be mindful as we have multiple central banks talking today, keep risk low while we wait for confirmation in a direction shift.

Trade now!

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