Bay Street Likely To Open On Positive Notefxcue.com

(fxcue news) - Higher commodity prices and fairly steady European markets point to a positive start for Canadian stocks Friday morning. The focus will be on U.S. Personal Consumption Expenditure (PCE) data, as the Fed's preferred inflation gauge is expected to provide clues about the outlook for interest rates. On the Canadian economic front, final data on Canada's GDP for the month of April, and a preliminary report on the nation's GDP in May, are due at 8:30 AM ET. According to a report from the Canadian Federation of Independent Business, the CFIB business barometer in Canada, which reflects 12-month forward expectations for business performance in the country, dipped to 56.3 in June 2024, down slightly from an upwardly revised 56.6 in the previous month. The Canadian market ended on a firm note on Thursday, led by gains in technology, real estate, healthcare and energy stocks. The benchmark S&P/TSX Composite Index ended with a gain of 148.26 points or 0.68% at 21,942.16. The Index, which opened at 21,798.38 touched a high of 21,956.71 in the session. Asian stocks gained on Friday ahead of a key U.S. inflation reading later in the day that could influence the Federal Reserve's decision on when to begin cutting interest rates. European stocks are broadly higher, aided by data showing a 0.7% growth in UK GDP in the first quarter. While the UK's FTSE 100 and Germany's DAX are moderately higher, France's CAC 40 is down ahead of the upcoming parliamentary elections. In commodities, West Texas Intermediate Crude oil futures are up $0.57 or 0.71% at $82.31 a barrel. Gold futures are gaining $8.70 or 0.37% at $2,345.30 an ounce, while Silver futures are up $0.399 or 1.36% at $29.655 an ounce.

Bay Street Likely To Open On Positive Note

U.S. PCE Price Index Unchanged In May

U.S. Dollar Firms Ahead Of U.S. Core PCE Inflation Data

Japanese Market Significantly Higher

Mild Upside Seen For Thai Stock Market

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Bay Street Likely To Open On Positive Note

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Trader

The price of gold remains strong, and we broke even today.

Buy spot gold at 2665, take profit at 2673.

Today, the profit from gold trading has been obtained, and we will continue to buy at a low level.

Gold operation strategy: sell in the 2663-2669 area, add position and sell in the 2675 area, manual stop loss, target 2614-2600-2584;

Profit and loss taking in gold trading

The gold trading recommendation is to sell at 2658/2660, take a look at 26482640, and buy with 2640 support below.

In the morning session of the Asian market, both EURUSD and GBPUSD traded with stop loss, while XAUUSD made a profit

Today's gold trading advice: Sell near 2641-43, stop loss 2650, target 2623-12. Buy near 2614-16, stop loss 2606, target 2624-35.

Before the gold price touched above 2660, it was bought based on a pullback around 2625. If gold doesn't go back and goes up directly, then wait until 2660-2680 to sell.

Today's crude oil operation adopts a high sell low buy strategy, with a focus on resistance at $70.2-71.2 above and support at $68.4-67.5 below.

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Bay Street Likely To Open On Positive Note

U.S. PCE Price Index Unchanged In May

U.S. Dollar Firms Ahead Of U.S. Core PCE Inflation Data

Japanese Market Significantly Higher

Mild Upside Seen For Thai Stock Market

Moderna Says CHMP Recommends Marketing Authorization For MRESVIA RSV Vaccine In EU

Bargain Hunting May Boost Hong Kong Shares

Bay Street Likely To Open On Positive Note

Regeneron Says CHMP Recommends Conditional Marketing Authorization For Odronextamab In EU

Please sign in

Trader

The price of gold remains strong, and we broke even today.

Buy spot gold at 2665, take profit at 2673.

Today, the profit from gold trading has been obtained, and we will continue to buy at a low level.

Gold operation strategy: sell in the 2663-2669 area, add position and sell in the 2675 area, manual stop loss, target 2614-2600-2584;

Profit and loss taking in gold trading

The gold trading recommendation is to sell at 2658/2660, take a look at 26482640, and buy with 2640 support below.

In the morning session of the Asian market, both EURUSD and GBPUSD traded with stop loss, while XAUUSD made a profit

Today's gold trading advice: Sell near 2641-43, stop loss 2650, target 2623-12. Buy near 2614-16, stop loss 2606, target 2624-35.

Before the gold price touched above 2660, it was bought based on a pullback around 2625. If gold doesn't go back and goes up directly, then wait until 2660-2680 to sell.

Today's crude oil operation adopts a high sell low buy strategy, with a focus on resistance at $70.2-71.2 above and support at $68.4-67.5 below.

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