Gold rose, USD/CAD and USD/JPY dropped

Gold rose, USD/CAD and USD/JPY dropped

Latest news:

  • The earnings season is underway! Today, AT&T will publish its earnings at 15:30 MT (GMT+3), while Intel will show its Q1 performance after the market closes at the midnight (MT/GMT+3).
  • Crude Oil Inventories came out worse than expected and pushed oil down. Inventories rose by 0.6 million barrels, while the forecast was for the drop of 3.7 million. The increase in supply is a negative factor for oil prices.
  • The Bank of Canada was hawkish yesterday, which is good for the Canadian dollar. The central bank left rates unchanged, but cut asset purchases by 1 billion Canadian dollars. Besides, the BOC shifted the rate hike from 2023 to the second half of 2022. The Bank of Canada was the first major central bank that tightens the policy so far after the coronavirus.
  • Today all eyes on the European Central Bank. The bank is expected to leave everything unchanged, but still, it’s an important event to follow as the tone of the bank may offer some hints.

Tech analysis

EUR/USD is moving in a downtrend in the long term, but the short-term trend is upward. Today, the ECB meeting may increase the volatility. If the price manages to cross the recent high of 1.2080, it may rally up to the next resistance of 1.2175, which lies at January-February highs. However, if it crosses the support of 1.2000, it may fall to the low of April 19 at 1.1960.

EURUSDH4.png

Gold has broken through the resistance of $1790 and retraced to it. It should be just a natural sell-off after the breakout. Thus, gold may rally up further to the late February highs of $1815. However, if it drops below $1790, it may fall to yesterday’s low of $1775.

XAUUSDH4.png

USD/CAD is steadily moving down in the long term. Yesterday, the hawkish move of the Bank of Canada underpinned the CAD and thus pushed USD/CAD down. If it manages to drop below the recent low of 1.2475, it may fall to the low of March 16 at 1.2435. The upside is limited moving averages at 1.2537 and 1.2555.

USDCADH1.png

Finally, let’s discuss USD/JPY. It has failed to cross the middle line of Bollinger Bands several times already. Thus, we might expect that this will happen again and the price reverses down from 108.15. But if it manages to cross it, the way up to the upper trend line of 108.50 will be open. If it breaks the lower line of Bollinger Bands at 107.85, the way down to the next round number of 107.50 will be open.

USDJPYH1.png

LOG IN

Similar

News for The Week
News for The Week

US stock markets started falling, while the US dollar is rising. What to expect from

Latest news

The US Dollar Is Correcting
The US Dollar Is Correcting

Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?

Bearish Signal For The USD
Bearish Signal For The USD

XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera