USD/CAD – Two-Month High Ahead of Thursday’s US Retail Sales Report

NFIB’s Small Business Optimism Index rose 1.3 points to 91.9 in December, coming in above market expectations for a modest increase. Despite the increase, the index was still 6 points below its historical average of 98 points. Five of the ten subcomponents improved on the month, three deteriorated, and two remained unchanged. Leading the gains […]

Last week’s broad-based US dollar strength has dissipated ex-post US non-farm payroll data with the continuation of its underperformance against the GBP. The US labour market has started to show growing slack where the labour force participation rate has dipped to 62.5%, its largest monthly decline in almost three years and full-time unemployment recorded its […]

Key Highlights EUR/USD declined below 1.0920 and tested the 1.0845 zone. A key bearish trend line is forming with resistance near 1.0900 on the 4-hour chart. GBP/USD is eyeing a decent increase above the 1.2750 resistance. Gold prices found support near $2,000 and started a fresh increase. EUR/USD Technical Analysis The Euro failed to clear […]