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Friday’s economic releases: Canadian GDP US PCE Price Core Index The Canadian dollar is showing limited movement on Friday. In the European session, USD/CAD is trading at 1.3276, down 0.05%. We could see stronger movement in the North American session, with the release of Canada’s GDP and the US PCE Price Index. The US dollar

USDCHF tests July’s eight-year low Sellers might stay in power, but not for long Core PCE inflation due at 13:30 GMT It was another bearish week for USDCHF, with the price fully retracing its July-September upleg to reach July’s eight-year low of 0.8551. There is potential for an upside reversal around the 2023 floor of

Daily Pivots: (S1) 0.8536; (P) 0.8587; (R1) 0.8614; More…. USD/CHF’s decline continues today and falls through 0.8551 support without noticeable recovery. Longer term down trend is resuming. Intraday bias remains on the downside for 100% projection of 0.9111 to 0.8665 from 0.8819 at 0.8373 next. On the upside, above 0.8572 minor resistance will turn bias

Daily Pivots: (S1) 1.0960; (P) 1.0986; (R1) 1.1038; More… EUR/USD’s rally from 1.0447 resumed by breaking through 1.1016 resistance. Intraday bias is back on the upside. Further rally should be seen to retest 1.1274 high. Strong resistance should be seen from there to limit upside, at least on first attempt. On the downside, below 1.0929

GBPJPY moves without direction in the past two weeks The 50- and 200-day SMAs curb upside and downside, respectively RSI and MACD are deep in their negative zones GBPJPY had been in a prolonged uptrend since January, posting an eight-year high of 188.64 on November 24 before experiencing a pullback. In the short-term, the pair is undergoing a

In the end, while I maintain a positive outlook for gold in the long term, the holiday season may introduce periods of limited market activity.  The gold market exhibited a modest rally during Thursday’s trading session, maintaining its upward pressure. On the whole, I remain optimistic about the long-term prospects of gold. However, it is

In the short term, any setbacks in the market are likely to be met with buying interest, as numerous traders are looking to establish long positions in the Australian dollar. The AUD/USD showed significant strength in the recent trading session, indicating that it’s preparing for a substantial move in the market. While my target remains

Key Highlights USD/JPY failed to clear the 145.00 resistance zone and declined. A major bearish trend line is forming with resistance at 144.00 on the 4-hour chart. EUR/USD and GBP/USD remained in a positive zone and eye more gains. The US GDP grew 4.9% in Q3 2023, less than the market forecast of 5.2%. USD/JPY

Retail sales rose by 0.7% month-on-month (m/m) in October, coming in slightly lower than Statistics Canada’s advance estimate of the +0.8% m/m reading. September’s print was revised slightly lower to +0.6% m/m from +0.7% m/m, reported in the advance estimate. Adjusting for inflation, the volume of retail sales reported a solid gain of 1.4% in