Breaking News: This Could Shake Up Markets

Market Analysis

GOLD - GOLD has risen ahead of CPI data release later this Wednesday. Big action expected to come into the market. Until then, we may see this rise further as traders cut on losses and secure funds in safe-haven assets.

SILVER - SILVER has risen but stayed consolidated. Not much action between 29.018 and 27.725. We expect the SILVER to rise further in the short term ahead of CPI release.

DXY - The dollar falls ahead of CPI release, waiting for potential strength and momentum to carry through above 101.786. There is a possibility for price to fall further from this price.

GBPUSD - Pound strength may be evident in the near term as Unemployment claims come out lower. There is a chance for prices to go lower, but we also take note of the potential W formation done under structure at 1.31097. There is a possibility that the pound may be weaker due to several factors, but we wait for further trading and price action to happen in the market.

AUDUSD - The Aussie dollar remains consolidated on 0.66541, failing to go beyond said structure. We expect further selling to happen but wait for further confirmations.

NZDUSD - Similar to the Aussie dollar, we expect the Kiwi to fall under 0.61408. We wait for further price confirmation before trading more.

EURUSD - The Euro has fallen under 1.10371. We expect further selling to come into the market and continue, but wait for further confirmation. We see potential for the markets to consolidate in the short term.

USDJPY - The Yen shows great strength, creating a new low and passing under previous low. We expect further trading to happen in the Asian session, and to calm down after this session to make way for the upcoming data release.

USDCHF - The Franc gains back some strength, but we see this market consolidating between 0.85541 and 0.84086. Until it breaks one structure, we continue to watch and see where the general trend will go. However, our expectations remain to be a strong Franc.

USDCAD - The Loonie weakens despite dollar weakness. Oil prices fell and the Bank of Canada said global trade disruptions could make it harder for the central bank to consistently meet its 2% inflation target.