USDCAD 4h Elliott Wave Analysis
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AUD/USD: Outlook is still bearish below 0.6630
AUD/USD extended its gains from Wednesday, supported by continued selling pressure on the US Dollar. However, weak performance in the commodities market and disappointing Chinese PMI data limited the Australian dollar's upward potential.
EUR/USD extends upside above 1.0850, with all eyes on US NFP data
The EUR/USD pair extends the rally to 1.0885 during the early Asian session on Friday. The uptick of the major pair is bolstered by the weakening of the US Dollar. All eyes will be on the US Nonfarm Payrolls, which is due later on Friday.
Gold retreated sharply, trades around $2,740
Prices of Gold trade markedly on the defensive on Thursday following a marginal uptick in the Greenback and declining US yields. Despite the daily pullback, the yellow metal is anticipated to remain bolstered by steady uncertainty pre-US election.
Maker Price Forecast: MKR could stage 40% rally
MakerDAO is up 2% on Thursday and could be set for a 40% rise in the coming weeks if it successfully maintains an extended move above the descending trendline of a falling wedge. On-chain data also supports the bullish outlook after a four-month-long decline.
Bank of Japan holds rates steady amid signs of modest GDP growth
Monthly industrial production results have been mixed but generally indicate a modest recovery in third-quarter GDP. Clear guidance from the Bank of Japan remains elusive, with each upcoming meeting being pivotal.
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