Forecasts & Analysis, Page 1

The Canadian dollar has settled down on Friday, after considerable gains on Thursday. The British pound is steady, ahead of a possibly historic vote over Brexit on Saturday. The Mexican peso continues to trade at a 10-week high against the greenback.

GBP/USD has seen an incredible surge higher over the last week or so. Where the pair goes from here largely depends on how UK parliament votes on the latest Brexit Deal.

3 percent – that’s the new IMF global growth forecast for 2019. It’s the lowest one since the Great Financial Crisis. Is the much talked about recession coming? And what about the just reached Brexit deal? Can they both make gold rally?

Crude prices have leveled off on Friday. Crude took advantage of dollar weakness on Thursday, climbing 2.0 percent.

EUR/USD extended higher on Thursday to post a third consecutive day of gains. The pair is underpinned by hopes that the UK will leave the EU in an orderly fashion and expectations for a Fed rate cut later this month.

Silver prices are steady on Friday, as the white metal continues to hover to close to $17.50.

Given the weak data from China and the uncertainty over Brexit, The USD/JPY is going to have a hard time mounting a rally.

The Australian and NZ dollars have steadied on Friday, after impressive gains of 1.0% on Thursday. Chinese GDP missed its estimate, but the yuan is holding its own against the U.S. dollar.

US equities were stronger Thursday, supported again by better earnings as the S&P 500 now sits within 1% of an all-time high.

US stocks moved higher on Thursday, but the move was measured, as trade issues and geopolitics remain in the headlines. Earnings have continued to come out mixed. While most of the financial have beat the street, technology shares have been less upbeat. IBM reported earnings on Wednesday after the closing

It’s a mixed start to the day, with Bitcoin Cash ABC bucking the trend. Movement in the late morning will dictate the direction for the day.

3rd quarter GDP numbers out of China will set the tone for the day, as the markets look ahead to tomorrow’s Brexit vote…

Although the market is in an uptrend, this week’s chart pattern suggests traders are having a hard time following through to the upside. Even as we inched higher this week, it was all done on lower-than-normal volume.

The chart pattern suggests any rally is likely to be labored, and any selling is likely to be volatile and hard. This makes since because of the number of overhanging uncertainties. The message is pretty clear:  Be careful buying strength this close to the all-time highs.

Demand for risky assets is still the main price driver. However, the light volume suggests rallies are going to be a chore until investors get some clarity over the partial trade deal between the United States and China.

Natural gas prices moved slightly higher on Thursday following a less than expected build in natural gas stockpiles. There is one disturbance in the Gulf of Mexico. Tropical depression 16, is now swirling in the Gulf and is expected to turn eastward making landfall in Louisiana and then Florida. The

US jobless claims remain buoyed

The US stock markets have rallied quite nicely over the last couple of weeks, but now they face significant resistance above, in the form of what is basically the all-time highs. At this point, it makes quite a bit of sense to see sluggish action.

Silver markets rallied a bit during the trading session on Thursday, reaching towards the downtrend line in what could either be a down trending channel or the top of the descending triangle. Because of this, the downtrend line becomes very crucial.

The crude oil markets went back and forth during the trading session on Thursday, as we have gotten the inventory figures out of the way. There is structural support underneath, so it does look like the buyers are still around.