Crude Oil inventories report will help all energies to gain volatility and choose a direction | Gold is falling, but there is possible long entry | October 27
Canada Might Increase Key Rate / 10% Profit Trade Idea
On December the 3rd Canada reported a 6% unemployment rate, while the expectations were at a 6.6% level. Less than expected unemployment rate is always hawkish news for the national currency. Employers added 154,000 jobs in November, far more than most forecasters were expecting, putting total employment back to where it would have been if the COVID-19 crisis hadn’t interrupted the trend early in 2020.
Investors are worried about high inflation. Brent oil keeps looking at $85 a barrel, natural gas corrected down, EUR/USD remains in a downtrend, and USD/JPY paused after the rapid growth on Monday.
Find out what happened to BTC and Gold!
FOMC statement on Wednesday 26th will shake currency and US stock markets. Also, Wednesday will be a significant day for the Canadian dollar. As the Bank of Canada monetary policy report will be announced. Volatility will also be added by the crude oil inventories report. Watch this video to learn more about the future of USD, CAD and the US stock market.
This week traders await earnings of Bank of America and Netflix. In addition, there will be important data releases for GBP/USD. Oil may test yet higher levels. Watch the video to get trade ideas for Forex, stocks, oil, and gold!
Despite Jerome's Powell hawkish speech, the greenback fell on Tuesday as investors returned to investment in risk assets…