At 4:12 p.m. (2112 GMT), the Canadian dollar was trading 0.2 percent lower at 1.3382 to the greenback, or 74.73 U.S. cents. "It has been a risk-off day for sure and that ties into the weaker-than-expected Chinese data that we had overnight," said Bipan Rai, North America head of FX strategy at CIBC Capital Markets. The Fed decision will help determine the direction of the Canadian dollar next week but the currency will also take its cue from domestic inflation and gross domestic product data, Rai said.
Bitcoin slid to yet another 15-month low, putting the world’s largest digital currency on track for consecutive losing weeks.
Currency markets attract flows into perceived havens on Friday, as risk appetite weakens on the back of weaker-than-expected data from the eurozone and China.
Investing.com - It had to be one safe-haven or the other and the dollar triumphed at the expense of gold on Friday as signs of slowing growth in China sparked risk aversion across the globe.
LONDON MARKETS London markets ended lower on Friday, as slow Chinese business activity in November rebooted refreshed worries over global economic growth. Meanwhile, Brexit uncertainty continues to hang in the air amid a lack of signals U.
Gold markets fell during the week, showing the $1250 level as resistance yet again. The 50 weekly EMA is just above, but at this point I think that thing to pay the most attention to is whether or not the US dollar rallies.
The US dollar rallied during the week, reaching towards the highs again near ¥114. However, the uptrend line underneath continues offer support while massive resistance offers travel. In other words, this is a very tight market looking for some type of momentum.
The British pound broke down during the week, slicing through the 1.27 level as there was a “no confidence vote” for Teresa May. She did survive it, so that was a brief reprieve for the British pound, but as you can see the trajectory continues lower.
The British pound continues to grind lower during the week against the Japanese yen, even after having a massive bounce from a reaction to Teresa May surviving a no-confidence vote. That being the case, we got a bit of positivity and the British pound, but we have since seen the thing turn around again.
The Euro fell during the week, reaching towards the bottom of the consolidation that we are currently in. However, what you don’t see on this chart, and you do see on the daily chart, is that we broke down below the bottom of a symmetrical triangle. That of course is a negative sign.
The Australian dollar initially tried to rally during the week but found enough resistance at the 0.7250 level to turn around and fall. Not only did it fall though, it ended up forming an inverted hammer.
Gold markets pulled back a bit during the trading session on Friday, reaching down towards the 50 day EMA, an area that of course attract a lot of attention from a technical analysis point of view.
The US dollar did very little during the Friday session, as we are getting relatively close to the significant resistance. That resistance starts around the ¥114 level, so a pullback is likely.
The British pound continues to slide during trading on Friday, as the relief rally after Teresa May avoided a no-confidence vote has been completely wiped out. She went to Brussels, and they offered her nothing in return. The odds of a hard Brexit are increasing by the day.
The British pound fell hard during the trading session on Friday, as we continue to see a bearish pressure. As it looks like the European Union is unwilling to budge on the Brexit negotiation idea, the British pound has been hammered.
The Euro breaks down significantly during the trading session on Friday, showing just how precarious things are at the moment. There are a lot of concerns about the Brexit, and of course this will affect not only the United Kingdom, but also the European Union.
The Australian dollar broke down during the session on Friday, as we have negative numbers coming out of China to suggest that the economy may be slowing down. Ultimately, I think that if we break down below the bottom of the candle stick for Friday, we continue to go lower, perhaps reaching down to the 0.70 level.
Gold prices continued to fall on Friday, as demand for the U.S. dollar rose after upbeat retail sales alleviated fears of a slowing economy. Comex gold futures for February delivery slumped 0.6% to $1,239.50 a troy ounce as of 10:36 AM ET (15:36 GMT). The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.55% to 97.59.
Gold prices moved lower on Friday as the dollar gained traction against the Euro. Stronger than expected US retail sales combined with a weaker than expected flash PMI reading in the EU lead to the headwinds experienced by gold.Technical Analysis
Investing.com - The U.S. dollar was higher on Friday after better-than-expected retail sales and amid expectations that the Federal Reserve will raise rates next week.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.56% to 97.60 as of 10:02 AM ET (15:02 GMT).Retail sales accelerated in November, with core retail sales up 0.2%, alleviating fears of a slowing U.S. economy.Meanwhile investors are focused on an upcoming meeting of the U.S. central bank, which is expected to increase rates, with a 79. ...
The S&P 500 fell 27 points or 1% as of 9:30 AM ET (14:30 GMT), while the Dow decreased 189 points, or 0.7%, and the tech-heavy Nasdaq Composite slipped 88 points, or 1.2%.
“Most of these pairs actual volume is under 1% of their reported volume on [CoinMarketCap]. We noted only 2 out of the top 25 pairs not to be grossly wash trading their volume, Binance and Bitfinex,” the report said.
The U.K. prime minister on Friday said she would able to secure the “further clarifications” to her Brexit deal that she needs to win the approval of British lawmakers.
Investing.com – U.S. futures slumped on Friday, as investors worry about slowing economic growth in China and elsewhere.The S&P 500 futures fell 22 points or 0.86% to 2,622.62 as of 6:40 AM ET (11:40 GMT) while Dow futures slumped 210 points, or 0.85%, to 24,361. Meanwhile tech heavy Nasdaq 100 futures decreased 70 points, or 1%, to 6,682.Retail sales in China posted their weakest growth in 15 years, increasing worry about the world’s second largest economy as the country is impacted by trade disputes with the U.S. ...
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the Fibonacci level at 1.1315. With the Fed raising rates next week and the economy showing signs of weakening in China and the Euro Zone, it’s going to take a lot to turn the EUR/USD around so our bias is likely to be toward the downside today.