USD/CAD : falls after jobs report but runs into wall of USD buying
Ichimoku Kinko Hyo CAD/JPY: The pair is trading above the cloud…
EUR/USD: upside bias remains strong on the 200-DMA
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAU/USD: Gold facing a further strength the last hours. Gold continues to flirt with 23.6% retracement area.
US Market View
U.S. stocks are seen opening mixed Wednesday, with tech stocks struggling to hold on Tuesday’s strong gains ahead of key inflation data. Crude oil prices consolidated, after absorbing the shock of another big build in U.S. crude inventories last week and shrugging at the news that Iraq, the second-biggest producer in OPEC, produced above its agreed quota in February. The focus of the day is likely to be on the government’s inventories data, after the American Petroleum Institute’s weekly estimate showed a 12.8 milion barrel surge in crude stocks, the biggest weekly rise since last April.
China’s stock markets also managed to stop the rout, at least for a day, with all of the major indices posting gains of as much as 1%, after monthly data on credit were stronger than expected.
USA Key Point
- Dollar steady ahead of 10-year Treasury auction.
- Treasury yields gradually climb ahead of North American trading.
- EUR/USD turns flat as dollar keeps little changed on the day amid tentative mood.
- XAU/USD consolidates Tuesday's gains below $1,720.
Gerasimos Papagiannis
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