Ichimoku Kinko Hyo
CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver is trading strongly higher and achieves a full retracement. Bulls control the market.
US Market View
US stocks are set to open mixed, ahead of the ‘quadruple witching’ today as December options contracts on stocks, indices, and other products all expire. As lawmakers pushed to finalize a roughly $900 billion stimulus deal, congressional leaders remained divided on Thursday over a handful of issues whose outcome could help determine the course of a sputtering economic recovery. Data released overnight in Europe again suggested that the economic impact of the latest lockdown may not be as bad as feared.
The never-ending saga of the US stimulus package is set to extend into the weekend after disagreements over end-dates for some Federal Reserve lending programs held up negotiations on Capitol Hill on Thursday. Crude oil prices have cooled a little overnight, but the rally in the rest of the industrial commodity complex continues unabated.
USA Key Point
- Canada October retail sales 0.4% vs. 0.0% estimate
- Canada retail sales lead the modest economic calendar today
- The CHF is the strongest and the GBP is the weakest