Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
USD/CAD stays depressed near 1.3300 as Oil price grinds higher, focus on OPEC+, Fed
USD/CAD licks its wounds after falling the most in a week. Oil price struggles despite softer US Dollar as markets brace for OPEC+ verdict. Softer US data, yields join bearish bias for the Fed to lure Loonie pair sellers. Canada GDP appeared … [Continue reading]
GBP/USD Price Analysis: Bears eye a discount for a test of 1.2300
GBP/USD bears are in control and taking out structures along the way. The focus is on the Fed but the technicals remain biased to the downside. GBP/USD is currently trading at 1.2310 and is around flat for the day ahead of the … [Continue reading]
Ethereum Price Prediction: Smart money absorption targets $1,800
Ethereum price has been consolidating for two weeks after rallying 40%. ETH could extend gains into the mid-$1,800 zone. Invalidation of the bullish scenario is a breach beneath $1,522. Ethereum price is in a two-week consolidation stage likely to … [Continue reading]
Canada: Economy cooled during Q4 but was far from ice cold – CIBC
Data released on Tuesday showed the Canadian economy grew 0.1% in November, with Q4 GDP estimated to have increased at a 1.6% annualized pace. Analysts at CIBC point out that the Canadian economy cooled during the final quarter of last year but was … [Continue reading]
EUR/USD could extend the rally towards 1.1040/1.1080 on a break past 1.0940 – SocGen
EUR/USD has extended its up move after breaking above the December high of 1.0730. Economists at Société Générale note that the pair could target the 1.1040/1.1080 area. Break of 1.0940 brings 1.1040/1.1080 in play “Daily MACD has turned flattish and … [Continue reading]
Improved risk sentiment should support SEK ahead – CIBC
The high beta status of the SEK has done little to protect its value of late. Economists at CIBC Capital Markets expect the EUR/SEK pair to move back lower and dip under 11 in the second half of the year. More constructive SEK backdrop would help … [Continue reading]
Gold Price Forecast: XAU/USD rebounds on China data, International Monetary Fund growth projections
Gold price prints the first daily gains in four while reversing from monthly support line. Market sentiment improves on upbeat China Purchasing Managers’ Indexes, International Monetary Fund growth forecasts. Anxiety ahead of Federal Reserve monetary … [Continue reading]
USD/CAD Price Analysis: Testing waters after a trendline breakout near 1.3400
USD/CAD is testing the strength of the breakout above the downward-sloping trendline from 1.3520. Investors have underpinned the risk aversion theme ahead of the Fed’s monetary policy. A bullish range shift by the RSI (14) indicates that the upside … [Continue reading]
USD/CAD hits fresh daily highs above 1.3350 on a quiet session ahead of key data
US Dollar up modestly amid higher US yields ahead of Fed and key data. Equity and crude oil prices trim losses during the American session. USD/CAD holds above 1.3300, risks remain tilted to the downside. The USD/CAD peaked during Monday’s American … [Continue reading]