USDCAD Looks Ready for Bearish Retracement

Gold reversed from resistance level 2075.00 Likely to fall to support level 2016.00 Gold recently reversed down from the strong multi-month resistance level 2075.00 (which also stopped the earlier uptrend in March of 2023, as can be seen below). The downward reversal from the resistance level 2075.00 stopped the earlier minor impulse wave iii. Given […]

In focus today In the US, today’s main data focus will be on the March PCE. Consensus expects both headline and core PCE inflation to remain steady at 0.3% m/m after mixed signals from March CPI and PPI reports. After yesterday’s GDP release, we got the quarterly PCE print as well, showing increased price pressures […]

A week rich in macroeconomic data contributed to the decline of the euro, yen, and pound. Notably, the following events were significant: Inflation falling for the second consecutive month (0.2% against the expected 0.3%); The publication of the updated forecast from the Federal Reserve (one reduction in the federal funds rate by 0.25%, presumably in […]