USD/CAD PRICE OUTLOOK: LOONIE AT RISK WITH TRUMP SET TO SLAP 10% TARIFF ON CANADIAN ALUMINUM IN SPITE OF USMCA DEAL
Canadian Dollar starts to edge lower on the back of fresh US-Canada trade war headlines
USD/CAD price action attempts to base with Trump announces tariffs on Canadian aluminum
Job reports, new US stimulus package optimism to set market tone.
Better-than-expected NFP should support Dollar.
Gold prices yet to peak.
Investors will have a lot to digest today, with several key themes set to play out ahead of the weekend. Risk assets are taking a breather from recent gain
ETH/USD is still fighting to stay above $400 as the entire market takes a brief pause.
Ethereum bulls are in control and are only facing a resistance point at $415.85.
Ethereum has remained relatively flat for the past four days as bulls and bears are fighting for the $400 level. The 2020-high rema
Weekly Initial Jobless Claims in US decreased by 249,000.
US Dollar Index clings to small daily gains below 93.00 after the data.
There were 1,186,000 Initial Claims for unemployment benefits in the US during the week ending August 1st, the data published by the US Department of Labor (DOL) reveale
Crude oil prices gained traction after making a technical correction.
Iraq announced that it will make additional output cuts in August.
Weekly Initial Jobless Claims in the US declined by 249K.
Crude oil prices closed the fourth straight day in the positive territory on Wednesday and staged a tech
GOLD (XAU/USD) AND SILVER (XAG/USD) ANALYSIS, PRICES AND CHARTS
Gold cruises through $2,000/oz. and continues to set fresh records.
Silver’s volatility jumps to a five-year high.
The ongoing rally in the US Treasury market is fueling demand for gold, and silver, as US real yields – nominal US
Lower channel trendline is also in play
The USDJPY has dipped to a new session low at 105.466. That low was just above its 200 hour moving average at 105.460. The price broke below its 100 hour moving average to get there. That is currently at 105.561.
The 100 and 200 hour moving averages are pr
EUR/USD gains further traction and trades closer to 1.19.
The sell-off in the dollar picks up pace and drags DXY lower.
US ISM Non-Manufacturing coming up next in the calendar.
The selling pressure is gathering traction around the greenback and is helping EUR/USD to clinch fresh weekly tops in the
NZD, GBP ANALYSIS & NEWS
NZD/USD Underperforms in August (Falling 9 of last 11 years)
NZD/JPY at Risk From RBNZ
GBP/USD Seasonal Tendency to Weaken in August
Much like in May, the beginning of August typically sees increased noise with regard to seasonal trends at a time in the year that marke
It feels like the market is waiting for a shove
European equities began the session with modest gains but gave them all away in the opening hour and are now keeping lower, with US futures also seen slightly weaker.
Despite the outperformance in trading yesterday, stocks are still seemingly cauti