Markets Weekly Outlook – Inflation Data & Geopolitics to Dominate

Bears are taking a breather after the latest bearish acceleration in past three days (oil price was down 5%) deflated by easing tensions in the Middle East and rise in US crude stocks (API report). Oversold daily studies and Tenkan-Kijun-sen turned sideways, suggesting that bears are running out of steam, which may prompt traders for […]

The Canadian labour market report will be watched closely next Friday for further signs of deterioration in the country’s economic backdrop. We look for an increase of 15,000 workers after a small 2,000 drop in employment in March. But the unemployment rate will hold steady at 6.1%—its highest level since January 2022 and up from […]

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum, indicating a potential for price to make a bearish reaction off the 1st resistance and fall towards the 1st support. The 1st resistance level at 102.61 is identified as an overlap resistance that aligns close to the 38.20% Fibonacci retracement level. Higher […]