The Canadian Dollar may resume its period of dominance against the US Dollar in the near term on the back of the BoC’s hawkish shift and a rebound in crude…
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/JPY-bearish contrarian trading bias.
Crude oil prices weakened despite the ongoing blockage at Suez Canal amid European lockdown woes. Gold could catch a breather if the US Dollar weakens on incoming core PCE data.
Copper prices weakened as risk averse investors sought safety in the form of US Dollars as fears grew over COVID outbreaks in Europe, while tensions between the West and China…