Bay Street Likely To Open Lower On Weak Commodity Pricesfxcue.com

(fxcue news) - The Canadian market is likely to open with a negative bias Monday morning, tracking weak crude oil and metal prices. U.S. futures are higher, reacting to Donald Trump's decision to nominate hedge fund manager Scott Bessent as U.S. Treasury Secretary. Oil and bullion prices are down on reports Israel and Hezbollah are on the cusp of a ceasefire deal. Preliminary data on Canadian manufacturing sales for the month of October is due at 8:30 AM ET. The Canadian market closed modestly higher on Friday, lifted by gains in industrials and energy stocks. Positive reaction to the nation's retails data and the recent announcement of a mini stimulus package contributed to the upside. The benchmark S&P/TSX Composite Index, which advanced to a new all-time high of 25,478.37, settled at 25,444.28 with a gain of 53.60 points or 0.21%. Asian stocks closed broadly higher on Monday after U.S. President-elect Donald Trump chose wealthy hedge fund manager Scott Bessent to be his Treasury Secretary. Bessent's reputation for stability and his past advocacy for gradual economic policies have calmed market nerves. European stocks are turning in a mixed performance after having climbed to two-week highs earlier in the session. The nomination of Scott Bessent to lead the U.S. Treasury Department in the Trump administration, and expectations of rate cut by ECB after the central bank chief economist Phillip Lane's dovish remarks aid sentiment. In commodities, West Texas Intermediate Crude oil futures are down $0.16 or 0.22% at $71.08 a barrel. Gold futures are down $30.30 or 1.11% at $2,681.90 an ounce, while Silver futures are down $0.513 or 1.65% at $30.825 an ounce.

Bay Street Likely To Open Lower On Weak Commodity Prices

Australian Market Notably Higher

Taiwan Bourse May Extend Friday's Gains

China Stock Market May Cut Into Friday's Losses

European Shares Gain On Rate Cut Hopes

Major European Markets Turning In Mixed Performance As Investors React To Regional Data

Pound Rises As Traders Expect BoE Slow Policy-easing Path

Bay Street Likely To Open Lower On Weak Commodity Prices

German Business Confidence Weakens In November

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Trader

Today, I made a profit from gold trading and was eliminated.

There are a lot of gold buying orders, all of which are profitable.

Selling and buying gold both generate profits

Today, there was a slight loss in foreign exchange trading...

This week's silver trading strategy can be carried out as follows: you can place a short order at the position of 31, set the stop loss level to 31.8, and first look towards 30.55 and 30.0.

Gold strategy: 2673-2682, sell near the dividing line, buy below 2660, steady at 2656 with buy, do not participate in buy if the level breaks 2650.

The spot gold price should focus on the vicinity of 2650. As long as it can stabilize above 2650, we can rely on the vicinity of 2650 to enter the market and buy.

Operation suggestion: Buy near 2690 gold with a loss of 2682, look at 2710 and 2720; If the decline is significant, then rely on 2670 support to buy!

Early trading strategy for the Asian gold market: Buy near the current gold price of 2700, with a target of 2728-2740-2756; If it is sold around the three o'clock mark of 2728, 2740, and 2756 for the first time; If given around three o'clock, 2706, 2700, 2692, you can buy in batches;

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Bay Street Likely To Open Lower On Weak Commodity Prices

Australian Market Notably Higher

Taiwan Bourse May Extend Friday's Gains

China Stock Market May Cut Into Friday's Losses

European Shares Gain On Rate Cut Hopes

Major European Markets Turning In Mixed Performance As Investors React To Regional Data

Pound Rises As Traders Expect BoE Slow Policy-easing Path

Bay Street Likely To Open Lower On Weak Commodity Prices

German Business Confidence Weakens In November

Please sign in

Trader

Today, I made a profit from gold trading and was eliminated.

There are a lot of gold buying orders, all of which are profitable.

Selling and buying gold both generate profits

Today, there was a slight loss in foreign exchange trading...

This week's silver trading strategy can be carried out as follows: you can place a short order at the position of 31, set the stop loss level to 31.8, and first look towards 30.55 and 30.0.

Gold strategy: 2673-2682, sell near the dividing line, buy below 2660, steady at 2656 with buy, do not participate in buy if the level breaks 2650.

The spot gold price should focus on the vicinity of 2650. As long as it can stabilize above 2650, we can rely on the vicinity of 2650 to enter the market and buy.

Operation suggestion: Buy near 2690 gold with a loss of 2682, look at 2710 and 2720; If the decline is significant, then rely on 2670 support to buy!

Early trading strategy for the Asian gold market: Buy near the current gold price of 2700, with a target of 2728-2740-2756; If it is sold around the three o'clock mark of 2728, 2740, and 2756 for the first time; If given around three o'clock, 2706, 2700, 2692, you can buy in batches;

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