Forecasts & Analysis

It’s a quiet day ahead on the economic calendar. Following upbeat sentiment on Thursday, support could be tested, with the U.S markets likely to influence.

Gold and silver prices both had a virtual meltdown following the release of a report by the U.S. Census Bureau detailing monthly sales for retail and food services in August 2021.

GBP/USD is fast approaching H4 prime support at $1.3689-1.3724. This may interest those interested in seeing price take out stops beneath lows around $1.3730.

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USD/CAD is testing the resistance level at 1.2685.

The S&P 500 has fallen a bit during the course of the trading session on Thursday as the uptrend line continues to attract attention going forward.

Silver markets got absently crushed during the trading session on Thursday to break down through the $23 level as the US dollar took off.

Crude oil markets have pulled back just a bit during the course of the trading session on Thursday, as the US dollar got a bit of a boost. Furthermore, the market may have gotten a little bit of head of itself and was ripe for a short-term pullback.

The natural gas markets have initially rallied during the trading session on Thursday but gave back the gains to show signs of gravity finally coming back into the picture.

Gold markets lost 2.5% after retail sales come out much stronger than anticipated in the United States.