Forward Guidance: Canadian Inflation Pressures Holding Steady ahead of Economy’s Re-Opening
We expect next week’s inflation report to show the headline rate held firm at 3.4% in May—matching April’s rise. This would mark the strongest back-to-back increases in a decade, although the jump is off of an exceptionally low base set...
Gold and Aussie Intraday Elliott Wave Analysis
GOLD – XAUUSD is coming down again, but the whole structure since the beginning of June now more and more looks like a bullish triangle formation within wave 4), where we are tracking the final wave E or maybe even...
Dollar Rises ahead of Weekend, Sterling Firm after GDP
Notable buying is seen in Dollar as markets enter into US session. There is no apparent reason for the rally, except that some traders could be adjusting positions ahead of the high profile G7 summit. Resilience in the Swiss Franc...
British Pound Quiet on Mixed Data
The British pound is slightly lower in the Friday session. The pair is currently trading at 1.4157, down 0.13% on the day. UK GDP rises The UK economy continues to forge ahead. GDP for April climbed 2.3% MoM, up from...
Stocks making the biggest moves in the premarket: Snowflake, Vertex Pharmaceuticals, Chewy & more
Take a look at some of the biggest movers in the premarket: Snowflake (SNOW) – Snowflake shares fell 3.7% in premarket trading, following the cloud computing company’s presentation of financial targets at its Investor Day meeting. Snowflake set a target...
EUR/USD Pair Is Currently Rising From The 1.2143 Low
The Euro started a fresh decline from the 1.2220 resistance zone against the US Dollar. The EUR/USD pair broke the 1.2200 support zone, but it remained well bid near 1.2150. A low was formed near 1.2143 and the pair is...
NZDUSD Touches SMAs In A Declining Tendency
NZDUSD has been in a slightly upside movement over the last 4-hour sessions, flirting with the downward sloping 20- and 40-period simple moving averages (SMAs). Broadly, the pair is trading within a descending formation, while a break above the 200-period...
XAU/USD Outlook: Gold Benefits From Weaker Dollar After US Inflation Data
Spot gold edged higher on Friday and probed above $1900 barrier, inflated by weaker dollar after signals that rising US inflation, which made a biggest annual increase almost 13 years, was insufficient to push Fed to start changing its stance...
USDCAD Tiptoes Above 1.20, But Bearish Picture Endures
USDCAD is consolidating around the level of 1.2060, which happens to be a key trough achieved in early September 2017, after its most recent deflection off the upper frontier of the descending channel. The bearish simple moving averages (SMAs) are...
GER 30 Seeks Support On Key Daily Level
The DAX consolidates gains as investors weigh high valuations against the pace of recovery. On the daily chart, a bullish MA cross is a sign of acceleration in the rally after a six-week-long consolidation. The index is currently looking for...
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