Canadian Dollar Drops As Oil Prices Dipfxcue.com

(fxcue news) - The Canadian dollar weakened against its major counterparts in the New York session on Friday, as oil edged lower on China demand concerns. Oil prices came under pressure due to concerns about a slowdown in Chinese growth and expectations of a ceasefire deal for the Gaza war and related violence in the Middle East. Data released earlier this week showed China's apparent oil demand fell 8.1 percent to 13.66 million barrels per day in June, prompting concerns about consumption. Elsewhere, United States Vice President Kamala Harris and the presumptive Democratic nominee after President Joe Biden's decision to end his re-election campaign has pledged not to stay "silent" about suffering in Gaza, raising hopes of an end to the war. Speaking to reporters after a meeting with Israeli Prime Minister Benjamin Netanyahu in Washington on Thursday, Harris said that her commitment to Israel's existence and security was "unwavering", but that "far too many" innocent civilians had been killed in the war. Harris said that she had urged Netanyahu to agree to a U.S.-backed ceasefire proposal that would ease the suffering of Palestinian civilians. The loonie fell to 1.3849 against the greenback and 0.9079 against the aussie, off its early highs of 1.3807 and 0.9034, respectively. The loonie is likely to challenge support around 1.39 against the greenback and 0.93 against the aussie. The loonie touched more than an 8-month low of 1.5035 against the euro. The loonie is seen finding support around the 1.52 level. Against the yen, the loonie edged down to 110.73, from an early 2-day high of 111.98. The currency is poised to challenge support around the 106.00 level.

Canadian Dollar Drops As Oil Prices Dip

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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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Canadian Dollar Drops As Oil Prices Dip

Tokyo Inflation Data Due On Friday

Stocks Fail To Hold Early Gains; Dow Settles Higher

U.S. Dollar Advances After PCE Inflation Data

U.S. Consumer Prices Inch Up 0.1% In June

Asian Shares Mixed After Upbeat US GDP Report

Canadian Dollar Drops As Oil Prices Dip

DAX Edges Up On Mixed Earnings

Dollar Gains Against Major Counterparts On Strong GDP Data

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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