TSX Snaps 3-day Losing Streakfxcue.com

(fxcue news) - After posting losses in the previous three sessions, the Canadian market closed on a firm note on Monday, as investors picked up stocks amid hopes the Bank of Canada will reduce interest rates on Wednesday. The Canadian central bank, which is scheduled to announce its monetary policy on Wednesday, is widely expected to ccut its overnight interest rate by 25 basis points to 4.5%. Healthcare, real estate, consumer discretionary, utilities and industrials shares were among the major gainers in the session. Several stocks from technology, financials and energy sectors also ended on a firm note. The benchmark S&P/TSX Composite Index ended the session with a gain of 182.26 points or 0.8% at 22,872.65, about 20 points off the day's high of 22,892.33. Canopy Growth Corporation (WEED.TO) soared nearly 17% on huge volumes. Bitfarms (BITF.TO), TC Energy Corporation (TRP.TO), Canadian Imperial Bank of Commerce (CM.TO) and Manulife Financial Corporation (MFC.TO) also posted impressive gains on large volumes. Sleep Country Canada Holdings (ZZZ.TO) zoomed 27%. The U.S. dollar turned in a weak performance on Monday amid political uncertainty in the U.S. after President Joe Biden decided to drop out of the presidential race and endorsed his Vice President Kamala Harris as the Democratic candidate for the post. Bombardier Inc (BBD.B.TO), goeasy (GSY.TO), Dollarama Inc (DOL.TO), Intact Financial Corporation (IFC.TO), Thomson Reuters (TRI.TO), Canadian Tire Corporation (CTC.A.TO), Constellation Software (CSU.TO), WSP Global (WSP.TO), FirstService Corporation (FSV.TO) and Kinaxis Inc (KXS.TO) gained 1.5 to 2.5%.

TSX Snaps 3-day Losing Streak

DAX Rebounds As Markets Watch US Political Developments

CAC 40 Rebounds As China Cuts Interest Rates

Dollar Mostly Subdued

TSX Snaps 3-day Losing Streak

Sensex

Commodity Currencies Slide

European Shares Seen Opening Mixed Ahead Of Key Earnings

Asian Shares Decline As Biden Withdraws From Presidential Race

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Trader

Suggestions for spot gold trading operations: Sell when the price rises close to 2680, sell when it unexpectedly rises above 2690, and buy when the price falls close to 61 or 54. I bought near 2650 in the morning yesterday and sold near 2670 and 2673 in the evening.

In terms of short-term trading strategy for Japanese gold, it is recommended to focus on buying with a pullback and selling with a rebound as a supplement. The short-term focus should be on the 2680-2685 resistance line above, and the short-term focus should be on the 2655-2650 support line below.

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;

Tags

TSX Snaps 3-day Losing Streak

DAX Rebounds As Markets Watch US Political Developments

CAC 40 Rebounds As China Cuts Interest Rates

Dollar Mostly Subdued

TSX Snaps 3-day Losing Streak

Sensex

Commodity Currencies Slide

European Shares Seen Opening Mixed Ahead Of Key Earnings

Asian Shares Decline As Biden Withdraws From Presidential Race

Please sign in

Trader

Suggestions for spot gold trading operations: Sell when the price rises close to 2680, sell when it unexpectedly rises above 2690, and buy when the price falls close to 61 or 54. I bought near 2650 in the morning yesterday and sold near 2670 and 2673 in the evening.

In terms of short-term trading strategy for Japanese gold, it is recommended to focus on buying with a pullback and selling with a rebound as a supplement. The short-term focus should be on the 2680-2685 resistance line above, and the short-term focus should be on the 2655-2650 support line below.

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;

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