Analysis:
S&P The US stock market appears to be recovering from higher-than-expected retail sales. One thing we can take away is the fact that sales came in lower than last month, which suggests there is some cooling off, even if expectations aren't meeting expectations. If this is the case, the SPX500 could test the previous high of $4396. A break above could take the price towards the descending trendline in the 1D time frame.
USDCAD is still higher on the day but saw a rejection from the daily highs. The dollar's intraday weakness suggests that investors are less concerned about the retail data and have only had a negative initial reaction, or it is another impetus for a dollar recovery. The price has support on the rising trendline if it continues lower.
Today's actions:
Gold : Gold The metal rose yesterday after the latest retail sales inflation gauge came in warmer than expected. This could be bullish as gold tends to thrive in an environment with higher inflation rates. However, much of the market sentiment revolves around the Fed's decision on future interest rate policy. If investors expect more breaks in the future, the higher the inflation, the better for the gold spot.
further: A steep descent, a bump and a short jolt — and then quickly up again: it is as if gold has boarded the carriage of a roller coaster at the end of September. And the ride that the precious metal is making was not over on Wednesday. Gold prices reached their highest level in four weeks, boosted by the conflict between Israel and Hamas. A troy ounce (31.1 grams) cost $1,938 Wednesday morning. we executed a buy at 1953.54
Silver: the same as for Gold, it also applies to Silver. We executed a buy at 23,223.
AUDNZD : The pair remains in an up-trend. we made a buy at 1.08130.
GBPCHF: This week the couple seems to have fallen into a trap. we're going with a sell the pair trade today. we release half of it at 1088.37. the rest keep going.
S&P The US stock market appears to be recovering from higher-than-expected retail sales. One thing we can take away is the fact that sales came in lower than last month, which suggests there is some cooling off, even if expectations aren't meeting expectations. If this is the case, the SPX500 could test the previous high of $4396. A break above could take the price towards the descending trendline in the 1D time frame.
USDCAD is still higher on the day but saw a rejection from the daily highs. The dollar's intraday weakness suggests that investors are less concerned about the retail data and have only had a negative initial reaction, or it is another impetus for a dollar recovery. The price has support on the rising trendline if it continues lower.
Today's actions:
Gold : Gold The metal rose yesterday after the latest retail sales inflation gauge came in warmer than expected. This could be bullish as gold tends to thrive in an environment with higher inflation rates. However, much of the market sentiment revolves around the Fed's decision on future interest rate policy. If investors expect more breaks in the future, the higher the inflation, the better for the gold spot.
further: A steep descent, a bump and a short jolt — and then quickly up again: it is as if gold has boarded the carriage of a roller coaster at the end of September. And the ride that the precious metal is making was not over on Wednesday. Gold prices reached their highest level in four weeks, boosted by the conflict between Israel and Hamas. A troy ounce (31.1 grams) cost $1,938 Wednesday morning. we executed a buy at 1953.54
Silver: the same as for Gold, it also applies to Silver. We executed a buy at 23,223.
AUDNZD : The pair remains in an up-trend. we made a buy at 1.08130.
GBPCHF: This week the couple seems to have fallen into a trap. we're going with a sell the pair trade today. we release half of it at 1088.37. the rest keep going.